US battery technology company Recharge Industries said it successfully completed acquisition of Britishvolt, the UK gigafactory company that went into administration in January after running out of cash.
The purchase sum was not disclosed. The administrators, EY, said remaining Britishvolt employees have transferred to Recharge as part of the transaction.
Recharge said its plans for the Britishvolt project “will make the UK’s first gigafactory a reality.” The factory was planned for Cambois in north-eastern England.
David Collard, Founder and CEO of Scale Facilitation said: “Our proposal combined our financial, commercial, technology and manufacturing capabilities, with a highly credible plan to put boots and equipment on the ground quickly.
“Our technology – including an exclusive license for the intellectual property and battery technology – has been developed and validated over the last decade through C4V in the US and will be the backbone of both gigafactories in Geelong and Cambois.”
Recharge Industries is owned by Australian investment firm Scale Facilitation Partners. It is developing Australia’s first large-scale lithium-ion cell production facility in Geelong.
