The new owners of bankrupt Britishvolt intend to use the Northumberland site to supply batteries to the Australian military. The planned manufacturing facility will not produce batteries for the mass market for now, but it aims to create thousands of jobs in the northeast of England in the near future.
Recharge Industries, an Australian company, acquired Britishvolt following its bankruptcy earlier this year. Since then, Recharge has been negotiating with insolvency administrator EY to secure use of the site near Blyth. EY has not yet issued an official statement, but people familiar with the matter say an agreement is imminent.
Securing the site marks a crucial initial step in Recharge’s plan to produce batteries for military, heavy commercial, and stationary storage applications. Australian energy company EDEA has also been in talks with Recharge to produce batteries for Australian military vehicles.
However, according to BBC reports, members of Northumberland County Council still have doubts about Recharge’s ability to realize the multibillion-dollar facility. If no significant progress is made on-site development by December 2024, the option exists to buy back that site. Britishvolt collapsed in January because its previous owners failed to secure government funding, which Recharge Industries says is not needed. Still, it is Recharge Industries, a start-up with limited battery manufacturing experience.
Recharge Industries, the new owner of bankrupt Britishvolt intends to use the Northumberland site to supply batteries to the Australian military. The planned manufacturing facility will not produce batteries for the mass market for the time being, but the aim is to create thousands of jobs in the northeast of England in the near future.
Source: https://www.bbc.com/news/business-67149907
