Refinyx

Refinyx was founded by the team that spent eight years developing Northvolt Revolt's battery-recycling technology: co-founders Mahmood Alemrajabi (CEO) and Ramiar Vaziri (CTO) led that division before Northvolt's bankruptcy. In September 2026, Refinyx emerged from stealth, announcing the acquisition of a 134-patent portfolio and a roughly 1,200-square-metre (13,000-square-foot) pilot lab in Västerås. Several independent sources (Sweden Herald, Börskollen) specify that the assets were not bought directly from Northvolt or its bankruptcy estate, but from **Lyten**, the US company that had earlier taken over Northvolt's plants (including Northvolt Ett, Northvolt Labs, and the Revolt recycling facility) — a detail not spelled out in Refinyx's own press release. The deal is financed by Qarlbo Energy, a vehicle of EQT co-founder Conni Jonsson (together with Thisbe, controlled by FAM/the Wallenberg Foundations), which will take an active governance role as the company scales. Refinyx does not intend to operate recycling plants itself, but to sell technology, engineering, and services to industrial operators; it has already signed a first US customer, whose identity and contract terms were not disclosed. The overall deal value was not disclosed.