Lyten, a provider of lithium-sulfur battery technology, has secured Letters of Interest totaling up to $650 million from the Export-Import Bank of the United States (EXIM).
The funding supports the expansion of Lyten’s manufacturing facilities in Silicon Valley, California, and Reno, Nevada, to meet the growing demand for advanced batteries — particularly for electric vehicles (EVs).
EXIM’s financing aligns with its “Make More in America” initiative, which aims to strengthen US supply chains and competitiveness in Transformational Export Areas (TEAs). Lyten’s focus on EV battery production enhances the domestic manufacturing of critical energy storage technologies, reducing reliance on foreign supply chains.
The company’s Reno facility is set to become the world’s first lithium-sulfur battery gigafactory, with an annual capacity of 10 gigawatt-hours by 2027. In addition, Lyten plans to scale up operations at its recently acquired San Leandro, California, site for commercial battery production by late 2025, focusing on EV applications and energy storage systems.
Lyten’s lithium-sulfur batteries are poised to revolutionize the EV market with their higher energy density and significantly lighter weight — up to 50% less than conventional lithium-ion batteries. Manufactured in the U.S. using locally abundant materials, these batteries eliminate the need for nickel, cobalt, manganese, and graphite, offering a sustainable and cost-effective alternative to traditional EV battery technologies.
With this strategic expansion, Lyten is well-positioned to address the rapidly growing demand for advanced EV batteries while reinforcing the United States’ leadership in sustainable energy solutions and automotive innovation.
Filed Under: Batteries, Technology News