Categories: Green-ITInnovation

Australian Battery Start-Up Takes Over Failed Britishvolt

Australia-based start-up Recharge Industries is to take over collapsed UK battery venture Britishvolt after finalising a deal with bankruptcy administrators late on Sunday.

Administrators EY said the sale would “help to support the development of technology and infrastructure needed for the UK’s energy transition”.

Britishvolt had planned a £3.8 billion high-volume battery production plant at a site near the Port of Blyth in Northumberland making batteries for 300,000 electric cars per year.

The plan was intended to take advantage of rising demand for EVs ahead of the government’s 2030 ban on sales of new petrol or diesel cars.

Faraday Future’s flagship FF 91 electric vehicle. Image: Faraday Future

Unproven start-up

While Recharge has yet to construct a large-scale project, it has an existing relationship with US-based lithium-ion battery developer C4V, removing the need to generate its own battery technology.

Britishvolt’s collapse last month was partly blamed on the large sums it spent on research.

The firm had been offered £100m of financing from the government but failed to meet various requirements.

But the Australian firm is focused initially on the power storage and defence industries, with plans later on to make batteries for high-performance sports cars – far different from Britishvolt’s original aims.

EV future

That leaves the UK with only one battery plant, a Chinese-owned operation next to the Nissan factory in Sunderland.

Countries and regions including the UK are looking to create EV battery supply chains independent of dominant producer China, but this requires large-scale investment.

An EU battery plan is being spearheaded by Sweden-based Northvolt, which began producing its first batteries at the end of 2021.

Matthew Broersma

Matt Broersma is a long standing tech freelance, who has worked for Ziff-Davis, ZDnet and other leading publications

Recent Posts

Apple Briefly Overtakes Microsoft For Market Crown On AI Plans

Apple AI announcements triggers three-day rally that sees market value briefly overtake Microsoft for most…

4 hours ago

Musk’s X Lawsuit Against Nazi Report Author Slated For 2025 Trial

Trial set for April 2025 against Media Matters, after its report prompted an advertising exodus…

21 hours ago

Elon Musk Wins Shareholder Vote On Pay, Texas Incorporation

Shareholders at Tesla vote to reinstate Elon Musk's 'ridiculous' $56bn pay package, and approve incorporation…

1 day ago

X (Twitter) Now Hides Posts Liked By Users

Elon Musk’s X platform (formerly Twitter) has this week begun hiding user likes, amid reports…

2 days ago