Supermaterial applications company, Lyten, industry experts in advanced lithium-sulfur battery technology, has announced that it has secured multiple Letters of Interest from the Export-Import Bank of the United States (EXIM) for financing of up to $650 million. This funding will support the expansion of Lyten’s San Leandro, California, and Reno, Nevada manufacturing operations, further positioning the U.S. as a global hub for innovative battery technology.
Strengthening U.S. Supply Chains
EXIM, the official export credit agency of the U.S. Federal Government, facilitates the export of American goods and services. Financing for Lyten aligns with EXIM’s “Make More in America” initiative, which seeks to bolster domestic supply chains and enhance competitiveness in Transformational Export Areas (TEAs). The agency’s current portfolio spans $34 billion across 148 countries, with a default rate of 0.98%, reflecting its stringent credit standards.
Lyten’s recent developments include the establishment of the world’s first lithium-sulfur battery gigafactory in Reno, Nevada, set to come online in 2027 with an annual capacity of 10 GW. Additionally, the newly acquired San Leandro facility, previously owned by Northvolt, is on track for commercial sales in the second half of 2025.
A Milestone in Lithium-Sulfur Innovation
Lyten’s lithium-sulfur batteries offer higher energy density and are up to 50% lighter than lithium-ion alternatives. By eliminating the need for nickel, cobalt, manganese, and graphite, Lyten reduces production costs, environmental impact, and reliance on foreign-sourced minerals. The batteries are manufactured using abundantly available U.S. materials, positioning them as a sustainable and cost-effective solution for global energy needs.
Dan Cook, Lyten Co-Founder and CEO stated, “We are thrilled to work with EXIM as a financial partner to scale U.S. lithium-sulfur manufacturing to meet rapidly growing global customer demand. Lyten’s Lithium-Sulfur batteries are a U.S. innovation and rely on a U.S. materials supply chain. The San Leandro and Reno factories will make the U.S. the world’s leading manufacturer and exporter of lithium-sulfur batteries.”
Expanding Caribbean Partnerships
EXIM’s financing will also support Lyten’s partnerships with Trinidad and Tobago and other CARICOM nations. Lyten plans to supply battery energy storage systems (BESS) to these regions, leveraging the unique thermal properties of lithium-sulfur batteries, which perform optimally in tropical climates.
“Tropical regions make up 40% of the world’s population and are the fastest growing population base on the planet. The growing energy demand within these regions increasingly relies on solar power generation, but current lithium-ion battery technology to store that energy does not perform well in hot conditions, making efficient storage of that energy challenging. Lithium-Sulfur’s performance actually improves in hot conditions, making it a perfect solution for energy storage in the global south,” stated Celina Mikolajczak, Lyten’s Chief Battery Technology Officer.
Broader Applications
Lyten’s lithium-sulfur technology is being developed for diverse markets, including aerospace, micromobility, and defense. The company partnered with AEVEX Aerospace to demonstrate lithium-sulfur-powered unmanned air vehicles (UAVs) compliant with the 2024 National Defense Authorization Act (NDAA). Lyten’s batteries will also be tested aboard the International Space Station (ISS) in 2025 for a variety of space applications.
Pioneering U.S. Battery Manufacturing Leadership
By scaling its Reno and San Leandro facilities, Lyten aims to position the U.S. as a leader in lithium-sulfur battery innovation, supporting sustainable energy storage solutions for global challenges.
About the Export-Import Bank of the United States
EXIM is the official export credit agency of the United States. As of its 2023 Annual Report, EXIM had $34.07 billion in lending across 148 countries, with a default rate of 0.98%. The agency’s “Make More in America” initiative supports domestic supply chains and transformational industries.
About Lyten
Lyten, founded in 2015, is a supermaterial applications company that has received more than $425 million in investment. Lyten’s proprietary processes permanently sequester carbon from methane in the form of 3D Graphene, and they utilize the tunable supermaterial to develop decarbonizing applications. Lyten is currently commercializing next-generation lithium-sulfur batteries for use in transportation, aerospace, space, consumer electronics, and energy storage markets; next-generation high strength, low carbon footprint composites; and next-generation sensors that significantly increase detection sensitivity and selectivity for use in environmental, automotive, industrial, health, and supply chain applications. The company lists more than 500 patents granted or pending and is currently manufacturing Lyten 3D Graphene material, lithium-sulfur batteries, and other applications in San Jose, California.
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Source/Photo Credit: Lyten
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