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let s get down to business. an australian firm recharge industries has come to the rescue and bought the battery maker britishvolt out of administration. the deal is expected to be announced shortly. britishvolt had plans to build a £4 billion gigafactory near the port of blyth in northumberland, but it ran out of money and collapsed last month. its downfall was blamed on a lack of battery experience, unproven technology, and therefore no customers oi’ revenue. the new owner is another start up. recharge industries is owned and run by a new york based investment fund called scale facilitation. its australian chief executive, david collard, told our business editor simonjack why his company was different. what we re bringing, which is different to the prior britishvolt, is we re bringing validated technology. so that process has already started. us defence has also validated the technology, it s actually already supplied to the uk navy through a subcontractor over ....
The new owner of failed battery start-up Britishvolt faces a near £8m tax bill in his home country of Australia, where one of his companies has been accused of having "an intentional disregard of a taxation law". ....
Britishvolt administrators in talks with 'additional parties' keen to buy Blyth battery site chroniclelive.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from chroniclelive.co.uk Daily Mail and Mail on Sunday newspapers.