Recharge Industries has bought Britishvolt’s assets, including its 230-acre site near Blyth, Northumberland.
Recharge Production UK, an arm of the Australian energy company, completed the purchase of the majority of the business and assets for an undisclosed sum last night. It plans to keep the Britishvolt brand name.
EY was appointed as administrator on 17 January after Britishvolt faced insufficient equity investment for the ongoing research it was undertaking and the development of its sites in the Midlands and the North East of England.
The Blyth site had been selected by Britishvolt as the home of its planned £3.8bn gigafactory.
The Australian company is ultimately owned and run by a New York-based investment fund called Scale Facilitation. The fund’s Australian chief executive David Collard said the site was “shovel-ready” but admitted it would be six to 12 months before the first shovel would be used on site.
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