Geelong, Australia-based Recharge Industries, a provider of battery technology specialising in production and R&D, announced on Monday that it has acquired Britishvolt for an undisclosed amount.
The announcement comes as the Australian firm is currently developing its first large-scale lithium-ion cell production facility to provide more efficient and recyclable batteries.
Parallely, Recharge Industries is also investing in the R&D of next-gen solutions to real-world and emerging energy storage solutions.
Reviving Britishvolt
The acquisition comes a few weeks after the UK battery startup collapsed into administration due to a lack of profitability and money. Britishvolt owed around £120M to creditors, reports The Guardian.
The company collapsed after a dismal year for the UK car industry, which builtonly 775,014 cars during 2022, the lowest annual figure since 1956, according to the Society of Motor Manufacturers and Traders (SMMT) report.
The acquisition by Recharge Industries will revive Britishvolt UK’s first Gigafactory, creating a strategic economic and security asset that will play a critical role in the UK’s industrial and net-zero strategies.
Consequently, it will provide thousands of green, skilled, and local jobs, driving, and local and national benefits.
Britishvolt: Developing next-gen battery tech
Founded by Orral Nadjari and Lars Carlstrom, Britishvolt focuses on developing next-gen battery cell technologies and R&D.
The company aims to electrify transportation and sustainable energy storage, producing low-carbon, sustainably manufactured lithium-ion battery solutions.
Recharge Industries: Making batteries better and lasting
Recharge Industries is establishing a large-scale lithium-ion battery cell production and research capability in Australia.
Using AI and multinational research partnerships, the company is focusing on making batteries better, safer, and longer lasting.
Recharge Industries is a portfolio company of Scale Facilitation, an investment firm.
David A. Collard, Founder and CEO of Scale Facilitation, says, “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.”
“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.”
Scale Facilitation UK-based advisor, Edward Dawes OBE, says, “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.”
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