Lyten, Inc., recognized as a front-runner in 3D graphene supermaterials, has decided to base its European headquarters in Luxembourg. This decision has been cemented through a Memorandum of Understanding with Luxembourg’s Prime Minister Xavier Bettel and other top ministers. The announcement came to light during the LuxInnovation Automotive Day 2023, an annual Luxembourgish event highlighting the transition to sustainable mobility.
Why It Matters
Setting up in Luxembourg signifies Lyten’s broader expansion into Europe, with an emphasis on fostering decarbonizing applications using their innovative 3D Graphene™ platform. This move aligns with Luxembourg’s pronounced climate targets, which strive for a 55% reduction in emissions by 2030 from 2005 levels. By this, the country is on track to attain a net zero economy by 2050.
Key Points
- Collaboration: Lyten aims to expand its R&D capabilities in Luxembourg, potentially establishing a facility that supports collaboration with European entities.
- Existing Engagement: Lyten has an ongoing R&D in IoT sensing in Luxembourg for the mobility sector, in tandem with an industry ally.
- Investment News: Lyten’s recent Series B fundraising secured $200 million from Fortune 500 investors, such as Stellantis, FedEx, and Honeywell.
- Products on the Horizon: Lyten intends to launch its Lithium-Sulfur batteries and lightweight composites to the commercial market by early 2024.
- Mission Statement: Lyten is committed to creating a materials platform to aid major greenhouse gas-emitting sectors in achieving net zero, without compromising on other key metrics.
Bottom Line
Lyten’s move to Luxembourg not only enhances its global footprint but also propels Luxembourg further in its vision to become a central hub for innovative and sustainable industries. With Lyten’s transformative 3D Graphene technology, sectors from transportation to manufacturing have an improved pathway to a net zero future, leveraging Luxembourg’s position as a nexus for cleantech innovation.
