Recharge Industries completes Britishvolt deal

Britishvolt, which had planned to build an electric car battery factor in the north-east, entered administration after running out of money.  

Under plans presented by Recharge Industries – which is a portfolio company of Scale Facilitation – the Britishvolt project will make UK’s first Gigafactory a reality, creating "a strategic economic and security asset which will play a critical role in the UK’s industrial and net zero strategies".  

Commenting on the successful bid, David Collard, founder and chief executive of Scale Facilitation, said “We are thrilled to have been successful in our bid for ownership of Britishvolt; our plans are the right ones for the local community and the UK economy.   

“Our proposal combined our financial, commercial, technology and manufacturing capabilities, with a highly credible plan to put boots and equipment on the ground quickly.   

“Our technology – including an exclusive license for the intellectual property and battery technology – has been developed and validated over the last decade through C4V in the US and will be the backbone of both gigafactories in Geelong and Cambois.   

“Backed by our global supply chain, strategic delivery partners and a number of significant customer agreements in place, we’re confident of making the Cambois Gigafactory a success and growing it into an advanced green energy project. We can’t wait to get started and want to start as soon as possible.   

“The north-east of England has a real depth of history and talent in manufacturing and engineering. I recently spent time in the area to get to know the people and the site, and I was struck by the similarities to our Recharge Industrie site in Geelong, Australia.   

“I was really taken by the passion and pride that the people have for the region and their determination to get behind a project that can drive lasting change. We have the right plan in place, to match and support the region’s energy and ambition to become a major player in the international battery market.”