Recharge Industries, an Australian battery manufacturer, has finalized its acquisition of the collapsed Britishvolt start-up. The company intends to fulfil the failed firm’s proposal to construct a £3.8bn gigafactory in the North East of England near Blyth.
Recharge Industries is presently developing a comprehensive research and production capacity for lithium-ion battery cells in Australia.
The company intends to construct a £3.8bn plant near Blyth in Northumberland to support the electric vehicle industry, which is expected to generate thousands of jobs.
Recharge Industries is already working on a similar project in Geelong, Australia and is confident in the UK site’s potential for success, hoping to develop it into an advanced green energy initiative.
The company has secured support from former England cricketer Lord Ian Botham, who is now a UK trade envoy to Australia. The move comes after Britishvolt’s collapse earlier this year, which resulted in the loss of more than 200 jobs.
The UK government had earmarked £100m to support the firm as a means of establishing a domestic electric vehicle battery industry.
According to David A. Collard, the CEO and founder of New York-based Scale Facilitation, which owns Recharge Industries, their proposal blends their financial, commercial, technology, and manufacturing capabilities with a credible plan to swiftly deploy resources.
He also remarked that the North East of England has a rich heritage and a wealth of expertise in manufacturing and engineering. After spending time in the region to familiarize himself with the people and the site, he noted the similarities to their Recharge Industries site in Geelong, Australia.
Collard expressed admiration for the area’s enthusiasm and pride, as well as its resolve to support a project that can create long-lasting transformation. He added that their plan is appropriately designed to match and boost the region’s energy and ambition to establish a dominant position in the international battery market.
