Recharge Industries, a portfolio company of Scale Facilitation, said on Monday it had bought UK-based Britishvolt, following its collapse in January 2023.
According to Recharge Industries’ proposals, the Britishvolt project will bring the UK’s first Gigafactory to life, generating a significant economic and security asset essential to the country’s industrial and net-zero strategies.
The recharged Britishvolt is also expected to generate thousands of green, skilled, and local jobs, resulting in local and national benefits.
Founder and CEO of Scale Facilitation David Collard expressed his excitement over the outcome of the bid, saying, “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.”
He said the proposal integrated the company’s resources in finance, business, technology, and manufacturing with a highly credible strategy to deploy personnel and equipment 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,” Collard noted.
He also pointed out that the North East of England has a rich history and a wealth of engineering and manufacturing talent.
“I recently spent time in the area to get to know the people and the site, and I was struck by the similarities to our Recharge Industries site in Geelong, Australia,” he mentioned.
Meanwhile, Scale Facilitation UK-based advisor, Edward Dawes OBE said Scale Facilitation and Recharge Industries have assembled an experienced team to move the project along quickly and in alignment with the strategically significant regional, national, and international supply chains.
Based in Geelong, Australia, Recharge Industries is constructing what it claims as the nation’s first large-scale lithium-ion cell manufacturing facility in order to produce batteries that are safer, more effective, and recyclable.
The company is also funding the research and development of upcoming energy storage technologies.
