Former Northvolt executives buy battery recycling technology from bankruptcy estate

Refinyx has purchased recycling technology from Lyten, the American company that took over the bankrupt battery factory Northvolt.

According to Bloomberg, the startup has bought a portfolio of 134 patents and a facility in Västerås. The purchase is financed by Qarlbo, the company led by EQT founder Conni Jonsson.

However, the company has no plans to run or build recycling facilities, but rather to sell technology and services.

Northvolt filed for bankruptcy in March 2025, the largest bankruptcy in modern Swedish history. A few months later, Lyten announced that it wanted to take over the company.