From pv journal Australia

Australian start-up Recharge Industries, owned by the US-based Scale Facilitation fund, has acquired the belongings and enterprise of Britishvolt, which went into administration in January.

Earlier than operating out of capital earlier this yr, Britishvolt deliberate to construct a $4.71 billion lithium-ion battery cell manufacturing plant in Cambois, northern England. At full capability, Britishvolt’s proposed 30 GWh manufacturing unit would have produced sufficient cells for greater than 300,000 lithium-ion batteries per yr.

Recharge Industries has now acquired Britishvolt after finishing a take care of its directors. They chose Recharge Industries as their most well-liked bidder from a discipline of contenders. The monetary phrases of the deal weren’t made public.

In January, Recharge Industries introduced plans to construct a lithium-ion gigafactory in Geelong Victoria. It plans to start out building of the challenge by the tip of this yr. It targets 2 GWh of annual manufacturing by 2024, earlier than ramping as much as 30 GWh of storage capability yearly.

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