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Australian firm bids for Britishvolt assets

Business news |
By Nick Flaherty


Australian battery startup Recharge Industries is reported to be bidding for the assets of collapsed battery startup Britishvolt.

Like Britishvolt, Recharge was developing its own technology. It holds exclusive licensing of Intellectual Property (IP) and advanced battery technology within the Commonwealth of Australia through its United States technology partner C4V.  

Britishvolt collapsed last week after rescue bids reported to be worth £32m didn’t materialise.

Recharge Industries has issued a commercial sub-license to Recharge Production in order to establish large-scale lithium-ion battery cell production in the State of Victoria.

Recharge Industries has also issued a non-commercial sub-license to Recharge Dynamics for an initial research programs are aimed at reducing battery cell waste which is generated during advanced manufacturing.

It has secured equipment for the initial 2GWh of annual battery cell production in Australia and last week appointed UK consultancy Accenture as an engineering services provider. The plan is to come online in 2024 scaling up to 6GWh annually by 2025. Following the completion of Phase 1, two subsequent phases are planned to scale to 30GWh annually by 2028.

It also has plans for a US battery plant.

www.rechargeindustries.com


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