Renewed hope for Britishvolt
Ernst & Young has entered into an agreement with Scale Facilitation Partners, and its wholly owned subsidiary Recharge Industries, to be the preferred bidder in acquiring the majority of the business and assets of Britishvolt.
THE TROUBLED battery innovator went into administration in January. The firm planned to set up a battery production facility at the port town of Blyth in Northumberland creating 3,000 jobs. This was seen as significant boost for the North East’s economy.
It is understood there were a number of parties interested in acquiring Britishvolt. Completion of the acquisition is expected shortly.
David A. Collard, managing partner and CEO of Scale Facilitation and Founder of Recharge Industries said: “We’re thrilled to be progressing with our proposed bid for Britishvolt and can’t wait to get started making a reality of our plans to build the UK’s first gigafactory.
“After a competitive and rigorous process, we’re confident our proposal will deliver a strong outcome for all involved.”
