Australian firm Recharge Industries buys Britishvolt out of administration

Australian firm Recharge Industries has bought battery maker Britishvolt out of administration. Britishvolt had planned to build a “gigafactory” battery plant, seen as essential to the future of British automotive manufacturing, near the Port of Blyth in Northumberland.

Britishvolt collapsed in January, its downfall blamed on a lack of customers, battery experience, proven technology and revenue.

The new owners confirmed they want to go-ahead with plans to build a £300m car battery plant in Northumberland where main contractor ISG paused construction work last summer when funding for the project dried-up.

David Collard, Founder and CEO of Recharge Industries parent company Scale Facilitation said, “We are thrilled to have been successful in our bid for ownership of Britishvolt; our plans are the right ones for the local community and the UK economy. Our proposal combined our financial, commercial, technology and manufacturing capabilities, with a highly credible plan to put boots and equipment on the ground quickly.

“We have the right plan in place, to match and support the region’s energy and ambition to become a major player in the international battery market.

The Australian company is owned by a New York-based investment fund called Scale Facilitation.

Collard, speaking on Radio 4’s Today programme said, "What we are bringing is validated technology. The US defence industry has validated it and it is already supplied to the UK navy through a subcontractor."

The new owners will keep the Britishvolt name but intends to start by focusing on batteries for energy storage and hopes to have those products available by the end of 2025. It then intends to produce batteries for high-performance sports cars.

Collard added, "I spent a lot of time with Northumberland County Council. They genuinely want a gigafactory and the best thing for their people. I'm not saying I'm the best person in the world to run this project, but at the end of the day the administrators had a legal obligation to get the best return for creditors. But I do think they care, as individuals, what the future holds."