Britishvolt, the company that wanted to build a battery factory in Blyth, has been bought by an Australian firm it has been confirmed.
The start-up was founded in 2019 but collapsed just three years later, laying off most of its 200 staff. The company had high ambitions of building a £4 billion battery plant in Cambois, outside Blyth in the North East, but was unable to secure sufficient funding for the project.
It emerged earlier this month that Australian firm Recharge Industries had been selected by auditors as the preferred bidder to take over the majority of the business. In an interview with the BBC, Recharge’s chief executive David Collard said the deal had now been finalised.
