It is one of the greatest bankruptcies in recent European history: before the Swedish battery cell manufacturer Northvolt Slid into the bankruptcy, he collected almost six billion of lenders. Including many public funds; German taxpayers alone threaten to sit at a loss of around one billion euros.
But while the processing of this funding flop is still running, the new investor wants to apply for further funding in the course of the planned takeover according to a media report. The US start-up plan to request financial support, reported the Swedish economic newspaper “Dagens Industri
“Referring to the CEO Dan Cook.
Cook wanted to turn to Brussels. He told the newspaper: “There is no doubt that the European Union A battery production in the region, on the continent, wishes. “
“There are several programs that are accessible to Lyten through this deal,” Cook is quoted. It is open which he has in mind. However, he “asked some of our cooperation partners to look at this”.
Unclear ownership structure
It is also unclear whether he too Germany Further funds demands more funds – for example for the battery cell factory planned by Heide. That doesn’t seem excluded. The federal government and Schleswig-Holstein had finally promised additional funds before bankruptcy.
A further 700 million euros alone should flow according to the “Temporary Crisis and Transition Framework” (TCTF), according to which EU countries can support projects for climate neutrality. One of the German Northvolt daughters has received a right-wing grant notification.
A spokeswoman for the Federal Ministry of Economics had confirmed that a new investor could have access to this in principle: “There is no automatism of transmission,” she said. However, this is possible “under certain conditions”.
Swedish authorities still have to agree
The Northvolt-Heimatland Sweden does not want to ask Cook for help. The country “went through a lot,” he said “Dagens Industri”. The Swedish government has recently also drove a restrictive funding policy, the Christian Democratic Vice Government Head of Ebba Busch had seen the EU for Northvolt.
However, the company is significantly smaller than Northvolt: Lyten has just around 300 employees, but is now considering doing thousands-including many dismissed Northvolt employees.
Only a few capital providers known
Lyten recently kept covered with regard to his owner structure. The investors of the company from California include Stellantis, Fedex, Honeywell and McKinsey.
Cook also spoke of “many billionaires and a large number of millionaires” among his donors, he did not give names. According to “Dagens Industri” there are around 800 co -owners in total, the size of their shares is not public.
Details of financing the planned takeover are also unclear. Lyten boss Cook did not comment on the purchase price. However, he spoke in the broadcaster SVT of a big discount that his company received. Insolvency administrator Mikael Kubu warned that the takeover would lose many creditors “a lot” money.
The Northvolt Group was considered a green hope
that should help the German auto industry with the mobility transition with battery cells from Europe. Among other things, the federal government, Schleswig-Holstein, the state Kfw And the EU took part in the financing.