Battery researcher Professor Patrik Johansson at Uppsala University.
Dan Cook, co-founder and CEO of Lyten, describes himself as a tech and industry guy with an engineering background who has also become a financier in recent years. He seems confident and happy to be in Skellefteå, explaining why this is a good deal for everyone involved.
– Northvolt fits us very well, perhaps mainly because lithium-sulphur batteries can be produced with almost the same equipment that is already here, he told Norran in a private interview after the Friday morning press conference.
Lithium-sulphur batteries are a different type of battery than the lithium-ion batteries previously made by Northvolt in Skellefteå. Using sulphur offers several advantages. It is cheaper, has high energy density, and the raw materials are easier to extract because metals like nickel, cobalt, and manganese are not needed.
Watch interview here:
However, there are also difficulties with the technology, according to Professor Patrik Johansson, a battery researcher at Uppsala University.
– So far, there have been challenges with lifespan because sulphur electrodes generally do not allow for many recharges. That is why those who work with lithium-sulphur batteries have focused on more niche markets, such as military drones. There, you do not need as many cycles because you assume they might get shot down anyway, he says.
Drones are exactly what Lyten has primarily focused on so far, and it seems it will be a while before their batteries can be implemented in cars, Dan Cook admits.
– We are currently working on introducing these kinds of batteries into vehicles, but it will take us until the end of the decade before it is approved due to the qualification required, says Cook.
However, he is convinced it will work in the future. He explains why Lyten will succeed where many others have tried and failed by pointing to their proprietary Lyten 3D Graphene, a three-dimensional variant of the material graphene. The material is used to encapsulate the sulphur, which provides better performance.
– This material is what distinguishes us from others. Others do not have the ability to produce their own material at the atomic level, says Cook.
So, even though it is relatively easy to convert a lithium-ion factory to lithium-sulphur, the Skellefteå operations will continue with products similar to what Northvolt produced, at least to start.
– Our plan is to start with the existing method, but we are already working to see how we can convert parts of the factory in the future.
Dan Cook was interviewed by Norran after the press conference on Friday. "Northvolt is a good fit for us," he says.
The batteries made in Skellefteå in the near term will primarily be for vehicles and battery storage, but Cook does not rule out products for military purposes.
– We already deliver to drone customers in the US. Then there are also implementations for the space industry and other military applications that require the same type of cells. Over time, we will expand to meet our customers' needs, he says.
That Lyten is a relatively small company compared to what Northvolt was is not something that scares Cook. He wants to build on what Northvolt had created—and add new technology and knowledge. Among other things, Cook says they have employees in the US who helped develop Tesla's Gigafactory in Reno.
– There is a leadership team here that is more than capable of growing the business. What Lyten can do is guide and inject technology, he says.
The plan is also to re-hire former employees. He does not want to promise an exact number but thinks it will be thousands over time.
– I believe we will be pleasantly surprised by our ability to scale up, he says.
Dan Cook, CEO of Lyten, stands between bankruptcy trustee Mikael Kubu and Northvolt's COO Mattias Ahrlet.
Regarding financing, questions have been raised about whether Lyten has the capital to take Northvolt on and get production up to a large enough scale to make it profitable. To this question, Cook responds with great confidence.
– I can assure you that our investors, both current and others we have spoken with, are well-positioned to handle the investments needed to make this work.
So, the money won't run out in six months?
– No, with the investors we have, as well as new investors, we are confident that we have enough money to handle this investment.
He does not want to disclose how much money they have to work with but says they have investors from Europe, the US, and Sweden. Private individuals who, according to Cook, are billionaires are also said to be invested.
– The network we have for financing is powerful, he says.