Dreams of the first UK Gigafactory are set to become a reality, with Recharge Industries™ announcing its successful takeover bid for Britishvolt.
Earlier this year, Britishvolt announced it had entered administration after failing to secure funding for the UK Gigafactory project, leaving the country’s battery production ambitions in serious doubt.
These goals that previously appeared out of juice have now been recharged, with Australian battery technology pioneers Recharge Industries, a portfolio company of Scale Facilitation®, successfully taking over ownership of Britishvolt.
Recharge’s plans will see the UK Gigafactory come to fruition, creating thousands of lucrative job opportunities and playing a pivotal role in the country’s path to net zero.
David A Collard, Founder and CEO of Scale Facilitation®, commented: “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.
“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 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 to match and support the region’s energy and ambition to become a major player in the international battery market.”
How will the UK Gigafactory support green targets?
The first UK Gigafactory will be located in Cambois, Northumberland and will help support the UK’s goals of transitioning from petrol and diesel-powered transport to electric vehicles.
The UK has laid out plans to ban the sales of new petrol and diesel vehicles from 2035, meaning the country’s battery production capabilities will need to increase significantly to meet the growing demand for electrified transport.
The Cambois Gigafactory is forecasted to create around 3,000 highly-skilled jobs and 5,000 jobs in the electric vehicle supply chain. Once up and running, the Gigafactory will yield around 300,000 battery packs annually, bringing in a host of local and national benefits.
Recharge Industries extends its global battery production portfolio
Based in Geelong, Australia, the company specialises in the research, development, and production of battery technology that will be essential in the transition to electric vehicles. The company is currently developing Australia’s first large-scale lithium-ion cell production facility.
The Geelong Gigafactory will innovate safer, more efficient, and recyclable batteries, investing in the research and development of cutting-edge solutions to global energy storage needs.
Collard concluded: “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 UK 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.”