{"id":12627,"date":"2023-02-27T15:45:10","date_gmt":"2023-02-27T15:45:10","guid":{"rendered":"http:\/\/TheNextWeb=1394440"},"modified":"2023-02-27T15:45:10","modified_gmt":"2023-02-27T15:45:10","slug":"plan-to-build-uks-first-battery-gigafactory-falls-out-of-british-hands","status":"publish","type":"post","link":"https:\/\/www.londonchiropracter.com\/?p=12627","title":{"rendered":"Plan to build UK\u2019s first battery gigafactory falls out of British hands"},"content":{"rendered":"\n
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Britishvolt, a prominent UK battery startup<\/a>, had generated enthusiasm over its plans to build the country\u2019s first battery gigafactory. But after filing for administration in January, it has now been bought by Australian firm Recharge Industries<\/a>.<\/p>\n

Launched in 2019, Britishvolt had planned a \u00a33.8 billion battery plant near the Port of Blyth in Northumberland, promising 300,000 batteries per year, the creation of 3,000 direct jobs, as well as a significant boost to the region\u2019s economy and the UK\u2019s production of EV<\/a> batteries.<\/p>\n

Despite gaining a funding pledge by the government<\/a> and partnering with major companies like Aston Martin<\/a> and Glencore<\/a>, in January, the startup filed a court notice to appoint administrators, after failing to secure sufficient funding<\/a>. Consequently, Britishvolt terminated its employees, the plant\u2019s construction was halted, and no commercial battery was ever produced.<\/p>\n

Now, battery maker Recharge Industries has won the bid to buy Britishvolt out of administration. The Australian startup is owned and run by a New York-based investment fund, Scale Facilitation<\/a>.<\/p>\n

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\u201cOur proposal combined our financial, commercial, technology, and manufacturing capabilities, with a highly credible plan to put boots and equipment on the ground quickly,\u201d David Collard, founder and CEO of Scale Facilitation, said in a statement<\/a>.<\/p>\n

As he told the BBC<\/a>, Britishvolt will maintain its name, but will follow a different direction. It will now focus on batteries for energy storage with the aim to commercialise them by the end of 2025.<\/p>\n

This leaves the UK<\/a> with only one existing battery plant<\/a>, next to the Nissan factory in Sunderland. The plant is owned by Chinese company Envision AESC.<\/p>\n

But it\u2019s not just takeovers by overseas companies that threaten the UK\u2019s plans to build a competitive battery<\/a> production sector. According to 2022 EU data<\/a>, some 20 battery gigafactories are being developed across the bloc alongside 111 industrial battery projects.<\/p>\n

Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Britishvolt, a prominent UK battery startup, had generated enthusiasm over its plans to build the country\u2019s first battery gigafactory. But after filing for administration in January, it has now been bought by…<\/p>\n","protected":false},"author":1,"featured_media":12628,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts\/12627"}],"collection":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12627"}],"version-history":[{"count":0,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts\/12627\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/media\/12628"}],"wp:attachment":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12627"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12627"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12627"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}