Battery start-up Britishvolt has acknowledged investment challenges but confirmed it has secured short term investment it needs to survive the coming "weeks".
The firm, which has ambitions to set up a gigfactory at Cambois employing 3,000 people, said some 300 staff had voluntarily agreed to a wage reduction in November, in a bid to stem costs. It comes as International Trade Secretary, in the region for this week's Green Trade Expo, answered questions about the Government's support for the project.
In a statement from Britishvolt, the firm said it continued to explore both short and long-term funding streams that would enable it to deliver on the ambitious £3.8bn plans in Northumberland. It said: "While the weakening economic situation is negatively impacting much business investment at present, at Britishvolt we are continuing to pursue positive ongoing discussions with potential investors.
