New concerns over Britishvolt’s plans to build a £3bn-plus gigafactory in Northumberland have emerged after receivers were appointed to one of the company’s subsidiaries.
Documents have been filed at Companies House showing that investment group Katch Fund Solutions has obtained an order to appoint two specialists from consultancy Begbies Traynor Group to Power By Britishvolt Properties Limited. Katch Fund Solutions – part of the Katch Investment Group which has bases in London, Panama, Luxembourg, Douglas, Sao Paulo and Zurich – secured the document on November 3, triggering the appointment of Bob Maxwell and Julian Pitt of Begbies Traynor’s Leeds office.
They have become receivers of part of the Blyth Power Station property. Their appointment comes just over a year after documents were filed showing how Katch Fund Solutions agreed to purchase bonds issued by Britishvolt on the terms of a subscription agreement. The appointment of the receivers comes as the planned project seeks funding after being beset by financial issues in recent months.
