It follows a process in which interested parties were invited to compete on equal terms, out of which Lyten emerged as the preferred bidder. Bohne said the decision was made with the “objective of preserving values and pursuing a going-concern solution for the business”. Lyten reportedly paid NOK 8 million (US$850,000) for exclusivity as part of the process.
“The employees have been severely affected by the bankruptcy. Under demanding circumstances, they have made an important and highly valued contribution to the work to continue battery production in the Arendal region. Their commitment has been instrumental in enabling us to enter into this agreement,” Bohne added. He said he was ‘optimistic’ about Lyten’s ability to execute.
The process aims to secure hundreds of jobs at Morrow Batteries long-term, having already secured 70 jobs through the autumn. Morrow’s main physical asset is its LFP gigafactory in Arendal, Norway.
It follows Lyten last year acquiring the majority of the assets of bankrupt Northvolt, the Swedish lithium-ion startup on which Europe’s battery ambitions had rested over the past decade. It started with Northvolt’s Poland BESS factory in July 2025, followed by its Sweden, Germany gigafactories and R&D and IP assets in August. Northvolt had been prioritising nickel manganese cobalt (NMC) chemistry.
