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Lyten, Inc.

Category: AI in Climate / Energy

An advanced materials company decarbonizing heavy industries through the production of 3D Graphene and its applications. Lyten, Inc. was founded in 2015. The company is led by Dan Cook. Based in San Jose, USA. Team size: 201-500. Total funding raised: ~$410M+ total (all confirmed rounds). Latest round: Series B ($200M, Sep 2023 led by Prime Movers Lab). Key investors include Stellantis, FedEx, Honeywell, Prime Movers Lab, U.S. Department of Energy.

Founded
2015
Headquarters
San Jose, USA
Team size
201-500
Total funding
~$410M+ total (all confirmed rounds)

Value proposition

Providing breakthrough materials that enable significant performance improvements (e.g., higher energy density batteries, lighter and stronger composites) while simultaneously contributing to decarbonization.

Products and solutions

LytCell Lithium-Sulfur batteries, Lyten 3D Graphene™, LytR lightweighted composites, Advanced sensing technologies

Unique value

Their core innovation is the creation of Lyten 3D Graphene™, a tunable supermaterial produced from natural gas, which serves as the foundation for their advanced batteries, composites, and sensors.

Target customer

Businesses in the automotive, aerospace, defense, and other hard-to-abate industrial sectors.

Industries served

Automotive, Aerospace, Defense, Industrial

Technology advantage

The ability to produce tunable 3D Graphene at scale allows for the development of next-generation products that are lighter, stronger, and more sustainable. Their Lithium-Sulfur batteries, for example, promise higher energy density without the use of critical minerals like nickel and cobalt, offering a significant advantage over traditional Li-ion batteries.

How they differentiate

Lyten's core differentiation is its proprietary Lyten 3D Graphene™, a tunable supermaterial derived from methane. This is used to produce lithium-sulfur batteries that are lighter, have a higher energy density, and do not use nickel, cobalt, or manganese. This approach aims to create a more sustainable and secure supply chain, reducing reliance on materials sourced from China.

Main competitors

Sion Power, Zeta Energy, Northvolt

Key partnerships

Stellantis, Northvolt (asset acquisition), US Department of Defense (DoD), National Security Innovation Capital (NSIC)

Notable customers

Stellantis, Major US and EU Automotive OEMs, Major Consumer Electronics Company, US Military Agencies

Major milestones

Successfully raised $200 million in a Series B funding round., Began shipping A-samples of its lithium-sulfur batteries for customer evaluation in May 2024., Acquired manufacturing assets from Northvolt, including a facility in Poland, to accelerate production., Opened a pilot production facility in San Jose, California, capable of producing 200,000 battery cells annually., Secured a contract from the National Security Innovation Capital (NSIC) to advance its battery technology for national security applications.

Growth metrics

While specific growth metrics like revenue are not public, Lyten has demonstrated significant traction by shipping A-samples of its lithium-sulfur batteries to major automotive OEMs in the US and EU, a major consumer electronics company, and various US military agencies. The company has also expanded its team to over 300 employees.

Market positioning

Lyten is positioned as a next-generation advanced materials and battery technology company focused on decarbonization. They are targeting high-value sectors including automotive, aerospace, defense, and consumer electronics. Their acquisition of Northvolt's manufacturing assets indicates an aggressive strategy to scale up production and establish themselves as a key player in the US and European battery markets.

Geographic focus

Lyten's primary geographic focus is the United States, with its headquarters and initial manufacturing in San Jose, California. They are actively building a US-based supply chain. The company also has a clear focus on the European market, evidenced by shipping samples to EU auto OEMs and the acquisition of a former Northvolt facility in Poland.

Patents and IP

While specific patent numbers are not readily available in the public domain, Lyten's entire business is built on a foundation of proprietary intellectual property surrounding its method of producing 3D Graphene and its application in various products. They have mentioned having a strong patent portfolio.

About Dan Cook

Dan Cook is the Co-founder and CEO of Lyten. Prior to Lyten, he was an Operating Partner at Tenex Capital Management, a private equity firm. He also has experience in the automotive, energy, and defense sectors. He holds an MS in Mechanical Engineering from Stanford University and a BS in Mechanical and Materials Engineering from Vanderbilt University.

Official website: