Australian battery start-up Recharge Industries has purchased Britishvolt for an undisclosed fee, planning to revive the failed gigafactory project in Blyth, Northumberland.
Britishvolt will now use Recharge’s preferred battery technology – licensed from American firm Charge CCCV (C4V) – rather than that which was in development under the previous ownership.
It aims to begin manufacturing cells for energy storage by the end of 2025, later adding automotive clients to its portfolio. The start-up previously held memoranda of understanding with Aston Martin and Lotus.
The remainder of Britishvolt’s staff has transferred to Recharge, administrator EY said in a statement.