Australian battery startup Recharge Industries is to purchase the assets of Britishvolt in the UK.
The company, a subsidiary of Scale Facilitation Partners in the US, is building a battery gigafactory in Australia with ‘semi-solid-state’ battery technology from C4V in the US and a plan to initially supply military customers.
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“We’re thrilled to be progressing with our proposed bid for Britishvolt and can’t wait to get started making a reality of our plans to build the UK’s first gigafactory,” said David Collard, CEO of Scale Facilitation CEO and founder of Recharge. It has already appointed Accenture to manage the building of its plant in Australia via another subsidiary, Recharge Production.
The deal is expected to close in the next seven days and the value has not been disclosed. Rescue bids before the collapse were valued at around £32m and the assets include a German battery equipment maker.
Three other groups were reported to have bid for the assets, which include an undeveloped site in Blyth, Northumberland and a process development centre in the West Midlands.
The other groups in the bidding shortlist were reported to include Orral Nadjari, the co-founder of Bristishvolt and CEO until last year, UK car maker Jaguar Land Rover via its owner Tata Motors, and investment group Greybull Capital.
The Recharge battery plant in the US started production in August last year. Recharge is also working with Deakin University in Australia on battery technology.