{"id":113781,"title":"Britishvolt site sold to US private equity investors Blackstone","publisher":"Share Talk","author":"sharetalk","published":"2024-04-15T16:12:24+00:00","modified":"2024-04-15T16:12:24+00:00","canonical_url":"https://www.share-talk.com/britishvolt-site-sold-to-us-private-equity-investors-blackstone/","markdown_url":"https://www.share-talk.com/britishvolt-site-sold-to-us-private-equity-investors-blackstone.md","json_url":"https://www.share-talk.com/britishvolt-site-sold-to-us-private-equity-investors-blackstone.json","category":"B2B","categories":["B2B","Blogs","Business & Support Services","Technology","Technology, Media & Telecoms"],"tags":["Ashtead","Automotive","battery","Blackstone","Blyth","Britishvolt","Bro Tathan","car","data centre","electric","electric car","emissions","England","EVs","factory","Gigafactory","gigasite","Glencore","ISG","Kwasi Kwarteng","lithium-ion","Manufacturer","Manufacturing","North East","Northumberland","Peter Rolton","RAF base","Severfield","Share Talk","site","South Wales","Tritax","UK","Vale of Glamorgan","Welsh Government"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/04/Britishvolt.webp?fit=1200%2C800&ssl=1","format":"news","language":"en-GB","content":"US private equity investors have acquired the location intended for Britain’s first electric car battery gigafactory, casting doubts on the UK’s net zero objectives.\n\nThe plot in Cambois near Blyth, Northumberland, was earmarked for the £3.8bn Britishvolt factory until the [company went into administration last year.](https://northeastbylines.co.uk/britishvolt-goes-bust/)\n\nNorthumberland County Council has now sold the site to Blackstone, which intends to develop a data centre there.\n\nBritishvolt, previously supported by the mining giant Glencore, collapsed, resulting in over 200 job losses and missing out on £100m in government funding through the Automotive Transformation Fund.\n\nInitially, an Australian firm, Recharge Industries, had planned to purchase the site but faced financial troubles, leading to a winding-up petition.\n\nThe acquisition by Blackstone, for an undisclosed amount, follows what the receivers at Begbies Traynor Group termed a “complex” sales process for the 235-acre site.\n\nCllr Glen Sanderson, the leader of Northumberland County Council, noted that Blackstone’s plans could bring up to £10bn in investment and potentially support around 4,300 jobs.\n\nHe stated, “Driving growth and jobs is a key priority for this Council. Next week, the Cabinet will review this truly unique opportunity for Northumberland, which promises significant benefits for the regeneration and revitalization of the local area.”"}