Plans for the UK's first electric car battery gigafactory are back on track after an Australian company completed its takeover of the collapsed start-up Britishvolt.
Recharge Industries aims to push ahead with plans to build the battery plant to create power for the electric car industry, creating thousands of jobs.
Britishvolt had aimed to construct a £3.8bn plant near Blyth, Northumberland, before it collapsed at the start of this year.
Its new owner is already behind plans for such a site in Geelong, Australia, and said it is confident of making the UK site a success and “growing it into an advanced green energy project”.
David A. Collard, founder and chief executive of New York-based Scale Facilitation, which owns Recharge Industries, said: “Our proposal combined our financial, commercial, technology and manufacturing capabilities, with a highly credible plan to put boots and equipment on the ground quickly.”
He added: “The North East of England has a real depth of history and talent in manufacturing and engineering. I recently spent time in the area to get to know the people and the site, and I was struck by the similarities to our Recharge Industries site in Geelong, Australia.
“I was really taken by the passion and pride that the people have for the region and their determination to get behind a project that can drive lasting change. We have the right plan in place, to match and support the region's energy and ambition to become a major player in the international battery market.”
Recharge Industries claimed the support of Lord Ian Botham, the former England cricketer turned UK trade envoy to Australia, on its way to completing the takeover of Britishvolt.
Mr Collard had said “‘Beefy’ [Lord Botham] is very supportive. He wants people back in jobs,” as his company threw its hat in the ring during the takeover process.
More than 200 staff lost their jobs when Britishvolt, which was backed by Glencore and had billed itself as the UK's battery champion, collapsed earlier in January.
The company had attracted support from Boris Johnson as a way to build a domestic electric vehicle battery industry. Ministers had earmarked £100m for the company.
Edward Dawes, who advised Scale Facilitation on the deal, said: “It is tremendous that we have been able to secure this advanced battery facility for the UK.
“Working with our closest allies, America and Australia, and using world-leading and proven technology, now we can take Britishvolt forward with real purpose.
“Scale Facilitation and Recharge Industries have put in place a hugely talented and experienced team, who are looking forward to moving this project on at pace, aligned to strategically important regional, national and international supply chains.
“This is good for the UK, good for the employees who are in limbo and good for British consumers.”