Recharge Industries selected to take over Britishvolt

EY has announced the selection of Australian firm Recharge Industries to take over the majority of the assets of Britishvolt, a bankrupt company whose goal was to build a battery factory in the UK.
Sans titre (1)

Australian company Recharge Industries has been selected by EY to take over Britishvolt, a bankrupt UK company that aimed to build a large-scale battery factory.


Process led by EY

In a statement released Monday, EY announced that the administrators of the Britishvolt bankruptcy had reached an agreement with Scale Facilitation Partners LLC and its subsidiary Recharge Industries to become the preferred purchaser of the majority of Britishvolt’s assets. This choice is the result of a process led by EY, which took into account numerous offers. The offer will be finalized in the next seven days.

In a separate statement, David Collard, managing director of Scale Facilitation and founder of Recharge Industries, enthusiastically announced his progress in the takeover bid for Britishvolt. He also added that his company is looking forward to implementing its plans to build the first giga battery factory in the UK.


Britishvolt files for bankruptcy

Britishvolt went bankrupt in mid-January after failing to raise sufficient funds to finance its planned £3.8 billion electric battery factory. The government had suspended a £100 million advance payment on the project. Britishvolt’s bankruptcy filing has sparked much controversy in the UK and criticism of the government, which has questioned its ambitions to be carbon neutral by 2050.

In conclusion, the takeover of Britishvolt by Recharge Industries marks a new chapter in the construction of a large-scale battery factory in the UK. The next few weeks will see the finalization of the offer and the beginning of the implementation of plans to achieve this goal.

Dans cet article :

Articles qui pourraient vous intéresser

Discussions with Rolls-Royce for SMRs in Sweden and Finland

The nuclear industry is looking to modular reactors to secure its future. With the announcement of discussions between Fortum and Rolls-Royce to build small nuclear reactors in Scandinavia, this innovative technology could soon become a reality.

United Kingdom: oil rigs on strike

Thousands of oil and gas workers operating on the British continental shelf are on strike to demand fairer wages and working conditions, highlighting the windfall profits made by these companies.

In Italy, a floating regasification unit stirs up controversy

The arrival of a floating regasification unit in Italy is divisive. While the Italian government is highlighting the benefits in terms of energy autonomy, environmental groups are expressing concerns about safety and environmental risks.

Already have an account? connect here.

Continue reading

Unlimited access

1€ per week without commitment
Billed per month
  • Enjoy unlimited access to the latest industry news. Cancel online at any time.

Limited articles per month

  • Access some of our articles and customize your newsletters according to your interests.

No commitment is required, you can cancel at any time.
Your payment method will be automatically debited in advance every 4 weeks. All subscriptions are automatically renewed. You can cancel at any time. Other restrictions and taxes may apply. Offers and prices are subject to change without notice.