Recharge Industries completes deal for Britishvolt
Recharge Industries™, a portfolio company of investment firm Scale Facilitation®, has been successful in its bid for ownership of Britishvolt, which entered Administration on 17 January 2023. Recharge Industries™ is a leading provider of battery technology, specialising in production and research and development.
Based in Geelong, Australia, the firm is currently developing Australia’s first large-scale lithium-ion cell production facility to provide safer, more efficient and recyclable batteries, as well as investing in research and development of next-generation solutions to real-world and emerging energy storage solutions.
With its global headquarters in Manhattan and its Global Innovation Center in Geelong, Australia, Scale Facilitation® is working bilaterally to bring together research, advanced manufacturing, capital, supply chains and talent.
Before entering Administration, Britishvolt had been planning to build an advanced technology battery cell Gigaplant in Northumberland involving total investment of around £3.8 billion, making it the largest industrial investment in North East England since Nissan’s arrival in 1984 and one of the largest-ever industrial investments in the UK.
Under plans presented by Recharge Industries™, the Britishvolt project will make the UK’s first Gigafactory a reality, creating a strategic economic and security asset which will play a critical role in the UK’s industrial and net zero strategies. The recharged Britishvolt will provide thousands of green, skilled and local jobs that will drive local and national benefits.
Commenting on the successful bid, David A. Collard, Founder and CEO of 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.
“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. Backed by our global supply chain, strategic delivery partners and a number of significant customer agreements in place, we’re confident of making the Cambois Gigafactory a success and growing it into an advanced green energy project. We can’t wait to get started and want to start as soon as possible.
“The North East of England has a real depth of history and talent in manufacturing and engineering. 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.
“I was really taken by the passion and pride that the people have for the region and their determination to get behind a project that can drive lasting change. 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.”
Scale Facilitation® UK-based advisor, Edward Dawes OBE said: “It is tremendous that we have been able to secure this advanced battery facility for the UK. Working with our closest allies, America and Australia, and using world-leading and proven technology, now we can take Britishvolt forward with real purpose. “Scale Facilitation® and Recharge Industries™ have put in place a hugely talented and experienced team, who are looking forward to moving this project on at pace, aligned to strategically important regional, national and international supply chains. This is good for the UK, good for the employees who are in limbo and good for British consumers.”
