{{Short description|UK electric vehicle battery manufacturing startup}} {{Use dmy dates|date=August 2022}} {{Use British English|date=August 2022}} {{Infobox company | name = Power by Britishvolt Limited | logo = | type = Limited company | traded_as = | industry = Battery manufacture | predecessor = | founded = {{Start date and age|2019|12}} | defunct = November 2024 | fate = Liquidation | founders = {{ubl|Orral Nadjari|Lars Carlstrom}} | hq_location_city = Blyth, Northumberland | area_served = | key_people = David A Collard (CEO, Scale Facilitation),<br>Tony Laydon (CEO, Recharge UK) | products = | revenue = | operating_income = | net_income = | num_employees = | parent = Scale Facilitation | subsidiaries = | footnotes = | hq_location_country = United Kingdom }} '''Power by Britishvolt Limited''', trading as '''Britishvolt''', was a UK startup manufacturer of lithium-ion batteries. The company initially planned production of batteries for the automotive industry. It began construction of a gigafactory at Blyth in northeast England in 2021, but work was halted in August 2022 due to funding difficulties.
The company went into administration on 17 January 2023. In February 2023, it was reportedly bought out of administration by an Australian startup. A subsidiary of US-based Scale Facilitation, Recharge Industries said it planned to resume construction in late 2023. However, amid continued financial difficulties, a deal to fund the business was not finalised, and in April 2024, the Blyth site was sold for redevelopment as a data centre campus. Britishvolt went into liquidation in November 2024.
==History== Britishvolt was incorporated as Power by Britishvolt Ltd in December 2019.<ref>{{cite web |title=Power by Britishvolt Limited |url=https://find-and-update.company-information.service.gov.uk/company/12381543 |website=Companies House |access-date=31 August 2022}}</ref> Its cofounders included Swedish former investment banker Orral Nadjari<ref name="Jolly-15Feb2022">{{cite news |last1=Jolly |first1=Jasper |title=Britishvolt secures £40m investment for electric vehicle battery factory |url=https://www.theguardian.com/business/2022/feb/15/britishvolt-secures-40m-investment-for-electric-vehicle-battery-factory |access-date=31 August 2022 |work=The Guardian |date=15 February 2022}}</ref> and Swedish automotive entrepreneur Lars Carlstrom.<ref name="Eye">{{cite news |title=Flat Battery |url=https://the-eye.wales/flat-battery/ |access-date=31 August 2022 |work=The Eye |date=23 July 2020}}</ref> Carlstrom quit as Britishvolt's chairman in December 2020 after details of a tax fraud conviction in Sweden were revealed<ref name="BBC-16Dec2020">{{cite news |title=Blyth car battery plant chief quits after tax fraud conviction revealed |url=https://www.bbc.co.uk/news/uk-england-tyne-55333075 |access-date=31 August 2022 |work=BBC News |date=16 December 2020}}</ref> (though Carlstrom later said the fraud conviction was dredged up after he disagreed with Britishvolt's rapid hiring and its decision to develop its own in-house battery tech).<ref name="Pratty">{{cite news |last1=Pratty |first1=Freya |title=Britishvolt cofounder pins new hope on Italian gigafactory |url=https://sifted.eu/articles/britishvolt-cofounder-new-gigafactory-italvolt |access-date=6 July 2023 |work=Sifted |date=3 July 2023}}</ref> US billionaire William Harrison was a shareholder through Cathexis Holdings; Harrison also owned ISG, the contractor appointed to lead construction of Britishvolt's factory.<ref name="Jolly-29Sep2022">{{cite news |last1=Jolly |first1=Jasper |title=Shock therapy: turmoil engulfs Britishvolt's £3.8bn battery factory |url=https://www.theguardian.com/business/2022/sep/29/britishvolt-38bn-battery-factory-green-industry |access-date=29 September 2022 |work=The Guardian |date=29 September 2022}}</ref>
Britishvolt rented a serviced office in London's Mayfair district and Newfield House, a mansion east of the Northumberland town of Blyth, used as office space. The company also had a team in Canada led by former Quebec premier Philippe Couillard and Anna Vujovic.<ref name="Jolly-29Sep2022"/>
It later emerged that management consultancy EY was heavily involved in Britishvolt's formation, with the startup sometimes spending more money paying consultants, including EY, than it paid its own staff. Insiders said EY had been instrumental in helping Britishvolt become a functioning enterprise ("They wrote the whole business plan from scratch, they did everything"), and three senior Britishvolt staff, including its chief financial officer, were all hired from EY in 2021.<ref name="Campbell-03Feb2023"/>
=== Product and market development === Sports car maker Lotus was among four automotive manufacturers that signed memorandums of understanding to be supplied by Britishvolt.<ref name="Jolly-15Feb2022" /> In March 2022 Aston Martin also committed to working with Britishvolt to develop energy cells,<ref name="Bownman-07Mar2022">{{cite news |last1=Bowman |first1=John |date=7 March 2022 |title=Aston Martin to work on high-performance battery cell technology with Britishvolt |url=https://cardealermagazine.co.uk/publish/aston-martin-to-work-on-high-performance-battery-cell-technology-with-britishvolt/256776 |access-date=31 August 2022 |work=Car Dealer}}</ref> and former Britishvolt CEO Nadjari had also intended to target Elon Musk's Tesla.<ref name="Mustoe-23Jun2022">{{cite news |last1=Mustoe |first1=Howard |date=23 Jun 2022 |title=British car battery champion seeks to woo Elon Musk's Tesla |url=https://www.telegraph.co.uk/technology/2022/06/23/british-car-battery-champion-seeks-woo-elon-musks-tesla/ |access-date=31 August 2022 |work=Telegraph}}</ref> In June 2022, Britishvolt signed a deal with South Korea-based POSCO Chemical to secure the supply of cathode and anode materials for its supply chain.<ref name="Posco">{{cite web |last=Carey |first=Nick |date=29 June 2022 |title=Britishvolt signs deal with Posco Chemical for battery materials |url=https://www.reuters.com/business/autos-transportation/britishvolt-signs-deal-with-posco-chemical-battery-materials-2022-06-29/ |work=Reuters}}</ref> In September 2022, Britishvolt batteries passed safety tests, allowing development cells to be shipped to seven customers for further testing.<ref name="Bourn-08Sep2022">{{cite news |last1=Bourn |first1=Amanda |date=8 September 2022 |title=Britishvolt gigaplant moves step closer after its battery cells pass crucial safety tests |url=https://www.northumberlandgazette.co.uk/business/britishvolt-gigaplant-moves-step-closer-after-its-battery-cells-pass-crucial-safety-tests-3836261 |access-date=15 September 2022 |work=Northumberland Gazette}}</ref>
=== Factory construction === Initially the company was reported to be planning a battery factory near Bridgend in South Wales or near Coventry,<ref name="Eye" /><ref name="Jacobson">{{cite news |last1=Jacobson |first1=John |title=New batteries from old, or will it be just the same old story for Blyth? |url=https://northeastbylines.co.uk/new-batteries-from-old-or-will-it-be-just-the-same-old-story-for-blyth/ |access-date=31 August 2022 |work=North East Bylines |date=14 February 2021}}</ref> but, in December 2020, Blyth was confirmed as the location for the Britishvolt manufacturing plant.<ref name="Jacobson" /><ref>{{cite news | title= £2.6bn Gigafactory planned for Blyth | first=Sam | last= Sheehan | url= https://www.pistonheads.com/news/ph-ev/--163-2-6bn-gigafactory-planned-for-blyth/43495 | publisher = Pistonheads | date= 11 December 2020 | access-date = 11 December 2020 }}</ref> Britishvolt secured the partnership of Siemens for this project.<ref>{{Cite web |last=Grundy |first=Alice |date=2021-01-18 |title=Siemens signs technology deal with Britishvolt to create 'most efficient' UK battery gigafactory |url=https://www.energy-storage.news/siemens-signs-technology-deal-with-britishvolt-to-create-most-efficient-uk-battery-gigafactory/ |work=Energy Storage News |access-date=2023-04-27}}</ref> In July 2021 plans for a £2.6bn gigafactory employing 3,000 people were approved, with the new Britishvolt plant to be located on former coalyards adjacent to the former power station in Cambois, near Blyth.<ref name="Harrison-04Jul2021">{{cite news |last1=Harrison |first1=James |title=Northumberland gigafactory set to secure planning permission |url=https://www.business-live.co.uk/manufacturing/northumberland-gigafactory-set-secure-planning-20965692 |access-date=30 August 2022 |work=BusinessLive |date=4 July 2021}}</ref> Britishvolt appointed ISG as its construction partner; ISG began work on clearing the site and creating foundations for the factory,<ref name="Electrive">{{cite news |title=Britishvolt begins construction on Blyth factory |url=https://www.electrive.com/2021/09/07/britishvolt-begins-construction-on-blyth-factory/ |access-date=30 August 2022 |work=Electrive.com |date=7 September 2021}}</ref> taking its first delivery of aggregate from a Cumbria quarry in July 2021<ref name="NEcho-09Jul2021">{{cite news |last1=Hughes |first1=Mike |title=Work set to start on £3.8bn Britishvolt gigafactory at Northumberland |url=https://www.thenorthernecho.co.uk/news/20266273.1-500-tonne-delivery-starts-britishvolt-build/ |access-date=31 August 2022 |work=Northern Echo |date=9 July 2021}}</ref> and starting construction on 6 September 2021.<ref name="Haill-06Sep2021">{{cite news |last1=Haill |first1=Oliver |title=Construction begins on UK's first battery gigafactory |url=https://www.proactiveinvestors.co.uk/companies/news/959524/construction-begins-on-uk-s-first-battery-gigafactory-959524.html |access-date=31 August 2022 |work=Proactive Investor |date=6 September 2021}}</ref> West Yorkshire-based engineering and services business NG Bailey was also engaged on the Blyth project and on a related development at Hams Hall in the West Midlands.<ref name="Lomax-21Jul2021">{{cite news |last1=Lomax |first1=Claire |title=NG Bailey selected as principal contractor to Britishvolt |url=https://www.ilkleygazette.co.uk/news/20294996.ng-bailey-selected-principal-contractor-britishvolt/ |access-date=31 August 2022 |work=Ilkley Gazette |date=21 July 2021}}</ref>
Anglo-Swiss mining giant Glencore invested in Britishvolt in August 2021,<ref name="Haill-06Sep2021" /> and was part of a £50M funding round with NG Bailey and Norway's Carbon Transition ASA.<ref name="Prior-19Jan2023">{{cite news |last1=Prior |first1=Grant |title=NG Bailey faces investment hit after Britishvolt collapse |url=https://www.constructionenquirer.com/2023/01/19/ng-bailey-faces-investment-hit-after-britishvolt-collapse/ |access-date=19 January 2023 |work=Construction Enquirer |date=19 January 2023}}</ref> In late 2021 Britishvolt was reported to be considering a stock market listing in either London or New York to help raise the £2 billion needed for the factory's construction.<ref name="Haill-06Sep2021" /> In January 2022 the UK government, through its Automotive Transformation Fund, committed to investing £100M in the Britishvolt project, alongside asset management company Abrdn and its property investment arm Tritax,<ref name="Jolly-21Jan2022">{{cite news |last1=Jolly |first1=Jasper |title=Britishvolt gets £100m boost to build UK's first large-scale 'gigafactory' |url=https://www.theguardian.com/environment/2022/jan/21/britishvolt-electric-car-battery-uk-gigafactory-blyth-jobs |access-date=30 August 2022 |work=The Guardian |date=21 January 2022}}</ref> supporting development of what was planned to be Britain's fourth-largest building.<ref name="Whitfield-22Jan2022">{{cite news |last1=Whitfield |first1=Graeme |title=Britishvolt: how a start-up found £1.7bn to make gigafactory vision a reality |url=https://www.business-live.co.uk/manufacturing/britishvolt-how-start-up-found-22841761 |access-date=30 August 2022 |work=BusinessLive |date=22 January 2022}}</ref> Glencore invested a further £40M in February 2022, topping up its previous funding of Britishvolt that then valued the company at more than $1 billion (£740M).<ref name="Jolly-15Feb2022" /> In May 2022, Britishvolt was set to acquire a German lithium-ion battery manufacturer, Monbat Holding GmbH, for €36M from Bulgaria's Monbat, with the latter taking shares in Britishvolt.<ref name="SeeNews-03May2023">{{cite news |last1=Kokalova-Gray |first1=Antonia |title=Monbat cancels deal to sell battery cell unit to Britishvolt |url=https://seenews.com/news/monbat-cancels-deal-to-sell-battery-cell-unit-to-britishvolt-821961 |access-date=3 May 2023 |work=SeeNews |date=3 May 2023}}</ref> In June 2022, Britishvolt announced an investment by Sunbelt Rentals, the main operating subsidiary of the Ashtead Group.<ref name="BV-Sunbelt">{{cite web |title=Britishvolt partners with Sunbelt Rentals to lower carbon footprint of Gigaplant and develop heavy equipment battery solutions (1 June 2022) |url=https://www.britishvolt.com/news/britishvolt-partners-with-sunbelt-rentals-to-lower-carbon-footprint-of-gigaplant-and-develop-heavy-equipment-battery-solutions/ |website=Britishvolt |date=31 May 2022 |access-date=12 January 2023}}</ref>
In July 2022, the Department for Business, Energy and Industrial Strategy confirmed the UK government grant.<ref name=beis-20220727>{{cite web |url=https://www.gov.uk/government/news/final-grant-offer-provided-to-britishvolt |title=Final grant offer provided to Britishvolt |publisher=Department for Business, Energy & Industrial Strategy |via=gov.uk |date=27 July 2022 |access-date=28 September 2022}}</ref> To support the factory, a supplier park, power connections, extensive road and rail transport infrastructure would be needed. Staged tranches of funding would be therefore provided as the project developed. Further fundraising efforts were being led by US-based Bank of America and Citibank, with London investment bank Peel Hunt and Lazard as financial adviser.<ref name="Jolly-15Feb2022" />
====Suspension of construction==== ISG suspended construction work at Blyth and largest shareholder Nadjari quit as CEO in August 2022 amid funding concerns;<ref name="Lowe-16Aug2022">{{cite news |last1=Lowe |first1=Tom |title=ISG pauses work on £2.6bn car battery 'gigafactory' amid funding delays |url=https://www.building.co.uk/news/isg-pauses-work-on-26bn-car-battery-gigafactory-amid-funding-delays/5118799.article |access-date=30 August 2022 |work=Building |date=16 August 2022}}</ref><ref name="CarDealer">{{cite news |last1=Bowman |first1=John |title=Britishvolt founder quits in wake of leaked documents that say battery cell company is on 'life support' |url=https://cardealermagazine.co.uk/publish/britishvolt-founder-quits-in-wake-of-leaked-documents-that-say-battery-cell-company-is-on-life-support/270428 |access-date=31 August 2022 |work=Car Dealer |date=23 August 2022}}</ref> ''The Guardian'' said the project had been put on "life support" to cut spending while it looked to conclude its next round of funding.<ref name="Jolly-12Aug2022">{{cite news |last1=Jolly |first1=Jasper |title=Huge UK electric car battery factory on 'life support' to cut costs |url=https://www.theguardian.com/environment/2022/aug/12/huge-uk-electric-car-battery-factory-on-life-support-to-cut-costs |access-date=31 August 2022 |work=The Guardian |date=12 August 2022}}</ref> The company said: "We are ahead in our enabling works at the gigasite in Northumberland ... this has allowed us to now take the time to focus on the design work for the site and to reschedule some construction work so that we can optimise the build process for each of the project's four phases, to better source materials given current supply constraints because of the global economic situation, and to enhance our cost efficiencies."<ref name="Jolly-12Aug2022" /> Manufacturing was then expected to start in mid-2025, some 18 months later than initially planned.<ref name="Gayne-30Aug2022">{{cite news |last1=Gayne |first1=Daniel |title=Britishvolt delays production plans for 18 months on gigafactory set to be built by ISG |url=https://www.building.co.uk/news/britishvolt-delays-production-plans-for-18-months-on-gigafactory-set-to-be-built-by-isg/5118975.article |access-date=30 August 2022 |work=Building |date=30 August 2022}}</ref><ref name="Turner-30aug2022">{{cite news |last1=Turner |first1=Millie |title=Britishvolt £3.8bn gigafactory to push back production until mid-2025 |url=https://www.cityam.com/britishvolt-3-8bn-gigafactory-to-push-back-production-until-mid-2025/ |access-date=31 August 2022 |work=City AM |date=30 August 2022}}</ref>
Termination of construction of the Britishvolt factory was a contributory factor in the September 2024 collapse of ISG.<ref>{{cite news |last1=Curtin |first1=Andrew |title=The rise and decline of ISG |url=https://constructionwave.co.uk/2024/08/08/the-rise-and-decline-of-isg/ |access-date=19 September 2024 |work=Construction Wave |date=8 August 2024}}</ref><ref name="Morby-02Dec2024">{{cite news |last1=Morby |first1=Aaron |title=ISG administrator finds just £35m to pay down £1.1bn debt |url=https://www.constructionenquirer.com/2024/12/02/isg-administrator-finds-just-35m-to-pay-down-1-1bn-debt/ |access-date=4 December 2024 |work=Construction Enquirer |date=2 December 2024}}</ref>
=== Financial issues === In September 2022, a further ''Guardian'' report said Britishvolt, facing problems that were making fundraising difficult, had called in consultancy EY to help. Sources were said to be concerned about the startup's management and talked of increasingly urgent attempts to secure financial support.<ref name="Jolly-29Sep2022"/> The ''Financial Times'' noted the business was spending £3M a month on salaries after hiring almost 300 people while still years from generating revenue;<ref name="FT-28Sep2022">{{cite news |last1=Campbell |first1=Peter |last2=Dempsey |first2=Harry |last3=Agnew |first3=Harriet |title=The EV battery race: inside the struggles of Britishvolt |url=https://www.ft.com/content/7cd57531-1c54-4d32-955c-d185dcea0621 |access-date=7 October 2022 |work=Financial Times |date=28 September 2022}}</ref> "profligate spending" included provision of expensive electric company cars, a hospitality suite at the Goodwood Festival of Speed motorsport event, "prolific" private jet use,<ref name="Campbell-20Jan2023">{{cite news |last1=Campbell |first1=Peter |last2=Dempsey |first2=Harry |last3=O'Dwyer |first3=Michael |title=Britishvolt: how Britain's big battery hope ran out of charge |url=https://www.ft.com/content/937ac165-5fcc-4ae8-bd00-3616d7a32cf1 |access-date=20 January 2023 |work=Financial Times |date=20 January 2023}}</ref> video yoga lessons from a fitness instructor, and top-of-the-range curved 4K computer monitors.<ref name="Jolly-20Jan2023">{{cite news |last1=Jolly |first1=Jasper |title=Britishvolt: how Britain's bright battery future fell flat |url=https://www.theguardian.com/business/2023/jan/20/britishvolt-britains-battery-startup-uk-car-production |access-date=21 January 2023 |work=The Guardian |date=20 January 2023}}</ref> Published accounts covering the 14 months to January 2021 showed a loss of £8.8M, warning of "material uncertainties that may cast significant doubt on the company’s ability to continue as a going concern", and government supporters rated Britishvolt's chances of survival at 50-50.<ref name="FT-28Sep2022"/>
On 2 November 2022, the UK government refused to advance £30M of its grant funding to Britishvolt (release of funds was contingent on reaching construction milestones), putting the company at risk of going into administration (Britishvolt held two meetings with the UK government, chaired by former business secretaries Jacob Rees-Mogg and Grant Shapps at the Department for Business and Trade, in October and November 2022).<ref name="BBC-28Apr2023">{{cite news |title=Britishvolt had two government meetings before collapse |url=https://www.bbc.co.uk/news/uk-england-tyne-65399220 |access-date=30 April 2023 |work=BBC News |date=28 April 2023}}</ref> The company then secured short-term funds lasting for several weeks on the same day.<ref>{{Cite web |last=Murray |first=Cameron |date=2022-11-02 |title=Economic climate starts to bite for battery gigafactory projects in Europe |url=https://www.energy-storage.news/economic-climate-starts-to-bite-for-battery-gigafactory-projects-in-europe/ |work=Energy Storage News |access-date=2023-04-27}}</ref> As the company urgently sought a new buyer or major investor, Glencore reportedly provided less than £5M, sufficient to keep the company going for just five weeks. The executive team was also set to work unpaid while other staff agreed voluntary pay cuts, receiving 25% or 50% of their salaries in November. Britishvolt said it was "continuing to pursue positive ongoing discussions with potential investors".<ref name="Sweney-02Nov2022">{{cite news |last1=Sweney |first1=Mark |last2=Jolly |first2=Jasper |title=Britishvolt staves off collapse with five weeks of funding and steep staff pay cut |url=https://www.theguardian.com/business/2022/nov/02/britishvolt-staves-off-collapse-with-extra-funding-and-steep-staff-pay-cut |access-date=3 November 2022 |work=The Guardian |date=2 November 2022}}</ref> The company was said to need a buyer within five weeks.<ref name="Ford-07Nov2022">{{cite news |last1=Ford |first1=Coreena |title=Britishvolt advisors given weeks to find buyer for Blyth plant, reports claim |url=https://www.chroniclelive.co.uk/news/north-east-news/britishvolt-blyth-electric-battery-buyer-25452374 |access-date=7 November 2022 |work=ChronicleLive |date=7 November 2022}}</ref> Two weeks later, receivers were appointed for a Britishvolt subsidiary,<ref name="Ford-16Nov2022">{{cite news |last1=Ford |first1=Coreena |title=Fresh fears over Britishvolt as receiver appointed to subsidiary |url=https://www.chroniclelive.co.uk/news/north-east-news/fresh-fears-over-britishvolt-receiver-25528765 |access-date=17 November 2022 |work=ChronicleLive |date=16 November 2022}}</ref> and by the end of November 2022, the company was reported to have abandoned its ambitions to build a second factory in Canada; Philippe Couillard had ceased working for Britishvolt in October 2022.<ref name="Jolly-27Nov2022">{{cite news |last1=Jolly |first1=Jasper |title=Britishvolt scraps plan for second factory in Canada |url=https://www.theguardian.com/business/2022/nov/27/britishvolt-scraps-plan-for-second-factory-in-canada |access-date=27 November 2022 |work=The Guardian |date=27 November 2022}}</ref>
In January 2023, the company was the target of two rival rescue bids. On 10 January, the ''Guardian'' reported Britishvolt was in talks with an Indonesia-linked investor consortium about a £160M rescue deal to avoid administration. The consortium (led by a UK-based private equity investor, DeaLab Group, and an associated metals business, Barracuda Group), would pay £30M for 95% of the business - a far cry from its previous $1bn (£820M) valuation - leaving current shareholders (including Nadjari, Glencore and Ashtead) with 5% of the business worth under £2M. The consortium would then invest £128M to fund the next stage in Britishvolt's development.<ref name="Jolly-10Jan2023">{{cite news |last1=Jolly |first1=Jasper |title=Obscure Indonesia-linked investor circles UK's Britishvolt with £160m deal |url=https://www.theguardian.com/business/2023/jan/10/britishvolt-deal-dealab-battery-startup |access-date=12 January 2023 |work=The Guardian |date=10 January 2023}}</ref> The ''FT'' then reported that three shareholders had tabled a matching bid that valued the company marginally higher.<ref name="Campbell-11Jan2023">{{cite news |last1=Campbell |first1=Peter |last2=Dempsey |first2=Harry |title=Britishvolt shareholders pitch rival bid to thwart Indonesian takeover |url=https://www.ft.com/content/3127ab8a-aaa3-4d0e-91b6-326c556e1da2 |access-date=12 January 2023 |work=Financial Times |date=11 January 2023}}</ref> The takeover bids were to be discussed by Britishvolt's board on 13 January.<ref name="Jolly-10Jan2023" /><ref name="Leggett-12Jan2023">{{cite news |last1=Leggett |first1=Theo |title=Decision looms on future of Britishvolt gigafactory |url=https://www.bbc.co.uk/news/business-64238306 |access-date=13 January 2023 |work=BBC News |date=12 January 2023}}</ref>
====Administration==== Ahead of a Britishvolt staff meeting on 16 January 2023, the BBC reported that "a British consortium" might make a last minute bid, adding, if no bidder secured 75% of shareholder support, the company might be heading for administration. It reported UK government views that it might be preferable for the company to collapse into administration so that more serious players might take the project on.<ref name="Jack-16Jan2023">{{cite news |last1=Jack |first1=Simon |title=Britishvolt hopes for last-minute bid to stave off collapse |url=https://www.bbc.co.uk/news/business-64290594 |access-date=16 January 2023 |work=BBC News |date=16 January 2023}}</ref> The following day, 17 January 2023, Britishvolt went into administration, with most of its 300 staff immediately made redundant (i.e. laid off). The company's board was believed to have decided there were no viable bids to keep the company afloat, and appointed EY as administrators<ref name="Jack-17Jan2023">{{cite news |last1=Jack |first1=Simon |last2=Nanji |first2=Noor |title=Britishvolt: UK battery start-up collapses into administration |url=https://www.bbc.co.uk/news/business-64303149 |access-date=17 January 2023 |work=BBC News |date=17 January 2023}}</ref><ref>{{Cite news |date=2023-01-17 |title=Battery startup Britishvolt enters administration as rescue talks fail |url=https://www.theguardian.com/business/2023/jan/17/britishvolt-expected-enter-administration-tuesday |access-date=2023-01-17 |work=The Guardian}}</ref> (an unsecured creditor, EY had previously earned millions of pounds in consultancy fees from Britishvolt,<ref name="Jolly-20Jan2023"/> and was criticised for its dual roles in the administration process,<ref name="Campbell-03Feb2023">{{cite news |last1=Campbell |first1=Peter |last2=O'Dwyer |first2=Michael |last3=Plimmer |first3=Gill |last4=Dempsey |first4=Harry |title=EY under fire over its two roles at battery start-up Britishvolt |url=https://www.ft.com/content/0f7085a5-08fb-4cc9-bdbf-0532ed9ef894 |access-date=5 February 2023 |work=Financial Times |date=3 February 2023}}</ref><ref name="CUK-10Feb2023">{{cite news |title=EY faces criticism on dual-role at Britishvolt |url=https://www.consultancy.uk/news/33484/ey-faces-criticism-on-dual-role-at-britishvolt |access-date=10 February 2023 |work=Consultancy UK |date=10 February 2023}}</ref> earning around £3.5M in fees as administrator).<ref name="FT-14Mar2023">{{cite news |last1=Campbell |first1=Peter |last2=Dempsey |first2=Harry |last3=O'Dwyer |first3=Michael |title=Britishvolt owed up to £160mn to creditors |url=https://www.ft.com/content/ae212f13-2d6a-4c5a-b7e1-b741f4144c62 |access-date=14 March 2023 |work=Financial Times |date=14 March 2023}}</ref> The company reportedly owed up to £120M to creditors when it collapsed,<ref name="Jolly-26Jan2023">{{cite news |last1=Jolly |first1=Jasper |last2=Collingridge |first2=John |title=Britishvolt 'collapsed owing £120m' as UK car industry reports dismal year |url=https://www.theguardian.com/business/2023/jan/26/britishvolt-collapsed-owing-120m-as-uk-car-industry-reports-dismal-year |access-date=26 January 2023 |work=The Guardian |date=26 January 2023}}</ref> a figure later revised upwards to £160M.<ref name="FT-14Mar2023"/> As a shareholder, the Ashtead plant hire firm later revealed it took a £35M hit from Britishvolt's collapse;<ref name="Ford-10Mar2023">{{cite news |last1=Ford |first1=Coreena |title=Britishvolt collapse triggers £35m hit for listed plant hire firm Ashstead |url=https://www.business-live.co.uk/manufacturing/britishvolt-collapse-triggers-35m-hit-26440567 |access-date=13 March 2023 |work=Business Live |date=10 March 2023}}</ref> NG Bailey reportedly lost "more than £2M",<ref name="Weinfass-17Mar2023">{{cite news |last1=Weinfass |first1=Ian |title=NG Bailey owed more than £2m by collapsed gigafactory client |url=https://www.constructionnews.co.uk/financial/ng-bailey-owed-more-than-2m-by-collapsed-gigafactory-client-17-03-2023/ |access-date=17 March 2023 |work=Construction News |date=17 March 2023}}</ref> later confirmed as £6.8M.<ref name="Prior-18Sep2023">{{cite news |last1=Prior |first1=Grant |title=NG Bailey makes £25m loss after Britishvolt shock |url=https://www.constructionenquirer.com/2023/09/18/ng-bailey-makes-25m-loss-after-britishvolt-shock/ |access-date=19 September 2023 |work=Construction Enquirer |date=18 September 2023}}</ref> The acquisition of Monbat's German battery businesses also collapsed due to Britishvolt's insolvency.<ref name="SeeNews-03May2023"/>
Following the administration announcement, several companies, including Glencore and Jaguar Land Rover owner Tata Motors, expressed interest in buying Britishvolt's Blyth factory site - regarded, with its deepwater port and access to clean energy and rail links, as ideal for a large-scale battery factory. To be eligible for the government's pledged £100M grant for the project, any preferred bidder would be required to build a battery manufacturing plant and have at least £150M of working capital.<ref name="Dempsey-18Jan2023">{{cite news |last1=Dempsey |first1=Harry |last2=Campbell |first2=Peter |last3=O'Dwyer |first3=Michael |last4=Pickard |first4=Jim |title=Britishvolt site draws interest from more than a dozen companies |url=https://www.ft.com/content/1fec5eb5-e2e3-4e26-b613-0b6bfdd2849e |access-date=19 January 2023 |work=Financial Times |date=18 January 2023}}</ref>
On 24 January 2023, a non-binding offer for Britishvolt was made by Geelong, Australia-based startup Recharge Industries (a subsidiary of Scale Facilitation Partners LLC),<ref name="Barrett-25Jan2023">{{cite news |last1=Barrett |first1=Jonathan |title=Bid by Australian startup Recharge could revive UK battery company Britishvolt |url=https://www.theguardian.com/business/2023/jan/25/australian-startup-recharge-bids-for-britishvolt-with-a-view-to-reviving-uk-battery-plant |access-date=25 January 2023 |work=The Guardian |date=25 January 2023}}</ref> which had earlier partnered with North America's lithium-ion battery technology company C4V, a partner in the USA's first gigafactory,<ref name="manufacturers-12Oct2022">{{cite news |title= Recharge Industries announces partnership with Charge CCCV |url= https://www.manmonthly.com.au/news/recharge-industries-announces-partnership-charge-cccv/|access-date=5 February 2023 |work=Manufacturers Monthly |date=12 October 2022}}</ref> and which was also planning a Geelong gigafactory<ref name="Barrett-25Jan2023"/> to be designed by US engineering firm, Jacobs.<ref name="AFR-05Feb2023">{{cite news |last1=van Leeuwen |first1=Hans |title=Aussie start-up can rescue UK battery industry with $6.7b plan |url=https://www.afr.com/companies/energy/aussie-start-up-wins-race-for-6-7b-british-battery-plan-20230205-p5chy3 |access-date=5 February 2023 |work=Australian Financial Review |date=5 February 2023}}</ref> EY administrators, originally expected to sell the business for under £10M by the end of January 2023,<ref name="Fildes-25Jan2023">{{cite news |last1=Fildes |first1=Nic |title=Australian battery company signals plan to bid for Britishvolt |url=https://www.ft.com/content/48b29ff1-6cf7-4dce-a8db-b3d65af90f9d |access-date=25 January 2023 |work=Financial Times |date=25 January 2023}}</ref> were also in talks with a potential private equity investor Greybull Capital.<ref name="Jolly-01Feb2023">{{cite news |last1=Jolly |first1=Jasper |title=Private equity firm in talks to buy collapsed startup Britishvolt |url=https://www.theguardian.com/business/2023/feb/01/private-equity-firm-talks-bid-for-collapsed-startup-britishvolt-greybull-capital-gigafactory |access-date=5 February 2023 |work=The Guardian |date=1 February 2023}}</ref> On 4 February 2023, EY was reported to be working with Recharge Industries as its preferred bidder,<ref name="ITV News-04Feb2023">{{cite news |title=Australian firm chosen as preferred bidder for Britishvolt, according to reports |url=https://www.itv.com/news/tyne-tees/2023-02-04/australian-firm-chosen-as-preferred-bidder-for-british-volt |access-date=5 February 2023 |work=ITV News |date=4 February 2023}}</ref> ahead of bids from Greybull, a group of current shareholders, and Saudi British Bank.<ref name="Campbell-03Feb2023"/><ref name="AFR-05Feb2023"/>
====Criticism of UK government role==== In a May 2023 interview, Britishvolt co-founder Orral Nadjari said the firm's collapse was due to government bureaucracy and delay. He told Sky News that the UK had missed a window of opportunity to build a battery industry, and said the UK government, including Rishi Sunak, was largely to blame.<ref name="Conway-17May2023">{{cite news |last1=Conway |first1=Ed |title=Britain's battery industry doomed by government, Britishvolt co-founder claims |url=https://news.sky.com/story/britains-battery-industry-doomed-by-government-britishvolt-co-founder-claims-12882830 |access-date=24 May 2023 |work=Sky News |date=17 May 2023}}</ref> In August 2023, Nadjari told ''City AM'' that the UK government lacked "innovative thinking" and a "joined-up industrial strategy" to support the UK's electric vehicle industry.<ref name="Earl-06Aug2023">{{cite news |last1=Earl |first1=Nicholas |last2=Taylor |first2=Guy |title=Former Britishvolt boss slams government's EV strategy as takeover bid stalls |url=https://www.cityam.com/former-britishvolt-boss-slams-governments-ev-strategy-as-takeover-bid-stalls/ |access-date=14 August 2023 |work=City AM |date=6 August 2023}}</ref>
===Takeover by Recharge Industries=== On 26 February 2023, Recharge Industries announced it had bought Britishvolt out of administration;<ref name="Jack-26Feb2023">{{cite news |last1=Jack |first1=Simon |title=Britishvolt bought by Australian firm Recharge Industries |url=https://www.bbc.co.uk/news/business-64754879 |access-date=27 February 2023 |work=BBC News |date=26 February 2023}}</ref> the company was sold for £8.6M.<ref name="Whitfield-14March2023">{{cite news |last1=Whitfield |first1=Graeme |title=Britishvolt sold for just £8.6m after racking up losses of more than £150m |url=https://www.business-live.co.uk/manufacturing/britishvolt-sold-just-86m-after-26471735 |access-date=15 March 2023 |work=BusinessLive |date=14 March 2023}}</ref> Instead of automotive batteries, Scale Facilitation CEO David Collard (once, at 32, PwC's youngest ever partner in its New York headquarters,<ref name="Cranston-30Apr2023">{{cite news |last1=Cranston |first1=Matthew |title=How this Aussie ex-PwC partner places multibillion-dollar bets |url=https://www.afr.com/world/north-america/the-aussie-in-america-reviving-britain-s-biggest-battery-project-20230430-p5d4b5 |access-date=1 May 2023 |work=Australian Financial Review |date=30 April 2023}}</ref>{{efn|Collard's claim to be PwC's youngest ever partner, and the circumstances of his departure from PwC, have been disputed.<ref>{{cite news |last1=Johnson |first1=Sean |title=The real story behind David Collard’s departure from PwC |url=https://openpolitics.au/analysis/the-real-story-behind-david-collards-departure-from-pwc |access-date=8 July 2024 |work=Open Politics |date=5 July 2023}}</ref>}} and also involved in cannabis and PPE deals)<ref name="Yeomans-10Jun2023">{{cite news |last1=Yeomans |first1=Jon |title=Britishvolt's new owner dabbled in the cannabis and PPE trades. Is he the man to build Britain's £6 billion gigafactory? |url=https://www.thetimes.co.uk/article/britishvolts-new-owner-dabbled-in-the-cannabis-and-ppe-trades-is-he-the-man-to-build-britains-6-billion-gigafactory |access-date=13 June 2023 |work=Times |date=10 June 2023}}{{dead link|date=April 2025|bot=medic}}{{cbignore|bot=medic}}</ref> said Britishvolt planned to initially focus on batteries for energy storage, making these available by the end of 2025, with batteries for high-performance sports cars to follow later. One of Recharge's strengths was its existing relationship with American lithium-ion battery developer C4V, removing the need to develop new technology, and its access to Australian minerals including lithium.<ref name="Barrett-27Feb2023">{{cite news |last1=Barrett |first1=Jonathan |title=Australian startup Recharge finalises deal to take over UK battery maker Britishvolt |url=https://www.theguardian.com/environment/2023/feb/27/australian-startup-recharge-finalises-deal-to-take-over-uk-battery-maker-britishvolt |access-date=27 February 2023 |work=The Guardian |date=27 February 2023}}</ref> Collard said factory construction at Blyth would resume in six to 12 months, but the site would ultimately create up to 8,000 jobs on site and in the supply chain.<ref name="Jack-26Feb2023"/>
The ''FT'' reported that the takeover related to Britishvolt's battery technology and that it had until the end of March 2023 to close a rumoured £10M deal to buy the Blyth site and pay a creditor (Katch Fund Solutions)<ref name="Earl-02Apr2023">{{cite news |last1=Earl |first1=Nicholas |title=Recharge looks to rehire former Britishvolt execs as rescue deal falters |url=https://www.cityam.com/recharge-looks-to-rehire-former-britishvolt-execs-as-rescue-deal-falters/ |access-date=27 April 2023 |work=City AM |date=2 April 2023}}</ref> whose debt is secured against the land.<ref name="Dempsey-27Feb2023">{{cite news |last1=Dempsey |first1=Harry |last2=Campbell |first2=Peter |title=Recharge buys technology of failed battery start-up Britishvolt |url=https://www.ft.com/content/227ff6cb-cfda-44cb-8ef0-6541ed48874b |access-date=27 February 2023 |work=Financial Times |date=27 February 2023}}</ref> On 17 March 2023, Northumberland County Council extended a buy-back clause on the Blyth site, giving Britishvolt's new owners more time to build the gigafactory.<ref name="BBC-17Mar2023">{{cite news |title=Britishvolt site: More time given for gigafactory to be built |url=https://www.bbc.co.uk/news/uk-england-tyne-64979915 |access-date=20 March 2023 |work=BBC News |date=17 March 2023}}</ref> On 31 March 2023, the ''FT'' reported that Recharge Industries' attempt to buy the factory site might collapse due to a dispute over a National Grid power supply contract,<ref name="Dempsey-31Mar2023">{{cite news |last1=Dempsey |first1=Harry |title=Britishvolt deal at risk of collapse over power supply contract |url=https://www.ft.com/content/e848d2ef-bbf3-46b4-bc29-c46c8e620990 |access-date=27 April 2023 |work=Financial Times |date=31 March 2023}}</ref> but by late April the company was understood to have completed power and energy deals for the site.<ref name="BBC-28Apr2023"/> However, discussions regarding the county council's buy-back clause continued beyond mid-May 2023.<ref name="Barton-16May2023">{{cite news |last1=Barton |first1=Tom |title=More delays at Britishvolt site in Cambois in dispute over Northumberland Council buy-back clause |url=https://www.itv.com/news/tyne-tees/2023-05-16/more-delays-for-britishvolt-gigafactory-project-in-row-over-buy-back-clause |access-date=24 May 2023 |work=ITV News |date=16 May 2023}}</ref>
In June 2023, Collard told the ''Australian Financial Review'' that the British plant was being prioritised ahead of Recharge's Geelong factory, aiming to start UK battery manufacture as early as 2024.<ref name="AFR-13Jun2023">{{cite news |last1=van Leeuwen |first1=Hans |title=Battery maker Recharge fast-tracks UK plant, overtaking Geelong |url=https://www.afr.com/companies/energy/battery-maker-recharge-fast-tracks-uk-plant-overtaking-geelong-20230613-p5dg0s |access-date=13 June 2023 |work=Australian Financial Review |date=13 June 2023}}</ref> Former Britishvolt executive Tony Laydon had been hired to get the British project operational within 12 months, and Recharge had signed a deal with Tritax Management that would save £1 billion ($1.9 billion) from the project’s estimated £3 billion-plus longer-term cost. Britishvolt had also approached former chairman and owner Peter Rolton for the Chief Operating Officer role.<ref>{{Cite web |date=2023-04-02 |title=Recharge looks to rehire former Britishvolt execs as rescue deal falter |url=https://www.cityam.com/recharge-looks-to-rehire-former-britishvolt-execs-as-rescue-deal-falters/ |access-date=2023-11-30 |website=City AM}}</ref> However, Recharge UK had yet to agree a deal with the county council regarding its buy-back rights, which was delaying finalisation of the project's financing.<ref name="AFR-13Jun2023"/>
In late June 2023, the offices of Scale Facilitation and SaniteX, owned by Collard, were raided by Australian police in connection with alleged tax fraud. Company sources said the tax raid was due to a misunderstanding relating to US and Australian tax filings. Insiders said Recharge staff wages in Australia had been paid two weeks late. Funding to complete the purchase of the Blythe site was expected in the next two to four weeks, with Recharge expected to be a minor shareholder in a new company (North East Gigafactory Development LLP) with Tritax and Abrdn owning the majority.<ref name="Jack-25Jun2023">{{cite news |last1=Jack |first1=Simon |title=Britishvolt owner's offices raided by Australian tax police |url=https://www.bbc.co.uk/news/business-66012303 |access-date=26 June 2023 |work=BBC News |date=25 June 2023}}</ref> However, uncertainty continued to surround the deal,<ref name="Bonyhady-30Jun2023">{{cite news |last1=Bonyhady |first1=Nick |title=AFP raid triggers funding uncertainty at Australian start-up's UK battery plan |url=https://www.afr.com/technology/afp-raid-triggers-funding-uncertainty-at-australian-start-up-s-uk-battery-plan-20230629-p5dkfv |access-date=30 June 2023 |work=Australian Financial Review |date=30 June 2023}}</ref> as Scale Facilitation needed just under £10M to buy the site before it could close the deal with Tritax and unlock a £45M payment ("They need the money before they can buy the land and they need the land before they can get the money," an insider said).<ref name="Barrett-01Jul2023">{{cite news |last1=Barrett |first1=Jonathan |title=Where's the money? Questions mount over Australian company hoping to revive Britishvolt |url=https://www.theguardian.com/australia-news/2023/jul/01/wheres-the-money-questions-over-australian-company-scale-facilitation-britishvolt |access-date=4 July 2023 |work=Observer |date=1 July 2023}}</ref> Scale Facilitation also suffered a reported "exodus" of senior staff.<ref name="Yeomans-16Jul2023">{{cite news |last1=Yeomans |first1=Jon |title=Exodus spreads at Britishvolt owner Scale Facilitation |url=https://www.thetimes.com/business-money/energy/article/exodus-spreads-at-britishvolt-owner-scale-facilitation-9njpc2krg |access-date=19 July 2023 |work=Times |date=16 July 2023}}</ref> In August 2023, it was reported that Recharge Industries had yet to pay the final instalment of an £8.6m payment, due in April 2023, to complete its purchase of Britishvolt. A Recharge spokeswoman said the final instalment depended on a funding facility - due in August - which would provide extra cash for the project.<ref name="BBC-07Aug2023">{{cite news |title=Britishvolt buyer hasn't made final payment, administrators say |url=https://www.bbc.co.uk/news/business-66432641 |access-date=8 August 2023 |work=BBC News |date=7 August 2023}}</ref> The August 2023 deadline passed without a payment being made,<ref name="Whitfield-05Sep2023">{{cite news |last1=Whitfield |first1=Graeme |title=Latest deadline for Britishvolt deal passes without progress |url=https://www.business-live.co.uk/manufacturing/latest-deadline-britishvolt-deal-passes-27658466 |access-date=7 September 2023 |work=BusinessLive |date=5 September 2023}}</ref> while Recharge Industries was also being pursued in Australia over a $75,000 debt related to hospitality at Geelong Football Club and for monies owed to Geelong's Deakin University.<ref name="Guardian-31Aug2023">{{cite news |last1=Barrett |first1=Jonathan |title=Geelong Football Club chasing tens of thousands in unpaid debt from Britishvolt buyer |url=https://www.theguardian.com/australia-news/2023/sep/01/geelong-cats-afl-club-corporate-membership-money-recharge-industries |access-date=29 September 2023 |work=Guardian |date=31 August 2023}}</ref>
In late October 2023, the BBC reported that a deal to secure the Blyth site was "close", with Recharge set to pay EY £2.5m in outstanding fees and to pay £11m to property investor Katch. Recharge was also reportedly planning to supply batteries for Australian military vehicles through an Australian energy firm, EDEA. However, Northumberland County Council had doubts about Recharge's ability to deliver on its plan and retained an option to repurchase the site in December 2024 if no substantial progress on developing the site had been made.<ref name="Jack-19Oct2023">{{cite news |last1=Jack |first1=Simon |title=Britishvolt aims to supply batteries to Australian military |url=https://www.bbc.co.uk/news/business-67149907 |access-date=25 October 2023 |work=BBC News |date=19 October 2023}}</ref> In early November 2023, the BBC and ''FT'' reported that Britishvolt had failed to pay its UK staff for the last four months;<ref name="BBC-05Nov2023">{{cite news |last1=Jack |first1=Simon |last2=Leggett |first2=Theo |title=Recharge Industries: Britishvolt buyer failed to pay UK staff for months |url=https://www.bbc.co.uk/news/business-67312309 |access-date=10 November 2023 |work=BBC News |date=5 November 2023}}</ref> the ''FT'' said staff warned the business may be "trading while insolvent", and noted the receiver of the Blyth site was talking to other parties about buying the land, with Recharge no longer seen as a credible buyer.<ref name="FT-06Nov2023">{{cite news |last1=Campbell |first1=Peter |last2=Dempsey |first2=Harry |title=Britishvolt staff warn battery start-up may be trading while insolvent |url=https://www.ft.com/content/f791f5cb-5e31-437e-acca-ed24d9858642 |access-date=10 November 2023 |work=Financial Times |date=6 November 2023}}</ref>
A further ''FT'' report in November 2023 revealed that repeated Collard promises of investment in Scale Facilitation and Recharge had never materialised. He was named in New York lawsuits from staff demanding back pay, and had received an eviction notice from a luxury apartment, and an American Express bill for $746,000. One former senior employee said of the January 2023 decision to bid for Britishvolt: "It was a madman's call, we obviously didn't have the money." A due diligence report for Northumberland County Council by Grant Thornton into Collard and his businesses had raised multiple "red flags" over Collard's ability to raise financing.<ref name="Campbell-17Nov2023">{{cite news |last1=Campbell |first1=Peter |title=Missing investments and unpaid rent: Britishvolt owner’s broken promises |url=https://www.ft.com/content/1636d46b-e061-454e-9e3e-a54aed5a3542 |access-date=5 February 2024 |work=Financial Times |date=17 November 2023}}</ref>
In December 2023, the administration of Britishvolt was extended by EY as final payments for the firm, due in August, remained unpaid.<ref name="Buchan-04Dec2023">{{cite news |last1=Buchan |first1=Craig |title=EY extends its administration of Britishvolt, partly due to delayed final payment by Recharge Industries |url=https://www.northumberlandgazette.co.uk/business/ey-extends-its-administration-of-britishvolt-partly-due-to-delayed-final-payment-by-recharge-industries-4433364 |access-date=29 January 2024 |work=Northumberland Gazette |date=4 December 2023}}</ref>
In New York City in January 2024, Collard was arrested and charged over allegations of assault and harassment relating to an alleged incident on Madison Avenue on 15 November 2023.<ref name="ITV-28Jan2024">{{cite news |last1=Barton |first1=Tom |title=Britishvolt buyer faces assault and harassment charges in New York |url=https://www.itv.com/news/tyne-tees/2024-01-28/britishvolt-buyer-faces-assault-and-harassment-charges-in-new-york |access-date=29 January 2024 |work=ITV News |date=28 January 2024}}</ref> Collard was earlier also reportedly involved in a possible VAT scam.<ref name="Johnson-09Jan2024">{{cite news |last1=Johnson |first1=Sean |title=Scale Facilitation's inflated invoice to UK subsidiary raises questions about VAT refund |url=https://openpolitics.au/analysis/scale-facilitation-inflated-invoice-raises-questions |access-date=29 April 2024 |work=Open Politics |date=9 January 2024}}</ref><ref name="Wingerei-16Jan2024">{{cite news |last1=Wingerei |first1=Kim |title=David Collard’s financial innovations – VAT’s the Scam? |url=https://michaelwest.com.au/david-collards-financial-innovations-vats-the-scam/ |access-date=29 April 2024 |work=Michael West Media |date=16 January 2024}}</ref> Collard also faced a court action in New York for non-payment of a US$209,000 lease on a Rolls Royce Ghost Black.<ref>{{cite news |last1=Johnson |first1=Sean |title=‘It feeds his ego’: As Marles’ mate Collard defaults on his Rolls Royce payments, questions hang over deputy PM |url=https://www.crikey.com.au/2024/11/21/richard-marles-david-collard-scale-facilitation/ |access-date=5 December 2024 |work=Crikey |date=21 November 2024}}</ref><ref>[https://iapps.courts.state.ny.us/nyscef/DocumentList?docketId=I_PLUS_12/IYUB4GYYYDbELROEw==&display=all&courtType=Suffolk%20County%20Supreme%20Court&resultsPageNum=1 628395/2024 - Suffolk County Supreme Court], New York State Unified Court System. Retrieved 5 December 2024.</ref> In January 2025, the Australian Federal Police recommended charges be laid against Collard, fellow director Jimmy Fatone and tax accountant Chris Scott, over an alleged $126 million tax fraud.<ref>{{cite news |last1=Johnson |first1=Sean |title=AFP recommends tax fraud charges against former confidante of deputy PM |url=https://www.crikey.com.au/2025/01/08/afp-recommends-tax-fraud-charges-against-former-confidante-deputy-pm/ |access-date=16 January 2025 |work=Crikey |date=8 January 2025}}</ref>
In February 2024, administrators EY said there had been "discussions with a number of additional parties who ... may be interested in acquiring the proposed gigafactory site in Northumberland." Recharge Industries "continues to remain in default of the Business Sale Agreement".<ref name="ITV-15Feb2024">{{cite news |last1=Barton |first1=Tom |title=Britishvolt administrators in 'negotiations' with potential new buyers as deal remains 'in default' |url=https://www.itv.com/news/tyne-tees/2024-02-15/britishvolt-administrators-in-negotiations-with-potential-new-buyers |access-date=19 February 2024 |work=ITV News |date=15 February 2024}}</ref><ref name="Ford-21Feb2024">{{cite news |last1=Ford |first1=Coreena |title=Britishvolt administrators in talks with 'additional parties' keen to buy Blyth battery site |url=https://www.chroniclelive.co.uk/news/north-east-news/britishvolt-administrators-talks-additional-parties-28676547 |access-date=21 February 2024 |work=ChronicleLive |date=21 February 2024}}</ref>
In March 2024, Recharge UK faced a winding-up petition brought by a former board director, Tom Cowling.<ref name="Field-13Mar2024">{{cite news |last1=Field |first1=Matthew |title=Britishvolt buyer Recharge hit with winding up petition |url=https://www.telegraph.co.uk/business/2024/03/13/britishvolt-buyer-recharge-hit-with-winding-up-petition/ |access-date=18 March 2024 |work=Telegraph |date=13 March 2024}}</ref><ref name="Keighley-14Mar2024">{{cite news |last1=Keighley |first1=Tom |title=Britishvolt buyer faces winding up petition from former board director |url=https://www.business-live.co.uk/manufacturing/britishvolt-buyer-faces-winding-up-28815828 |access-date=18 March 2024 |work=BusinessLive |date=14 March 2024}}</ref> The company was ordered to pay a former employee almost £170,000 of unpaid wages by an employment tribunal in December 2023, and over £71,000 to another ex-employee in January 2024.<ref name="Buchan-15Mar2024">{{cite news |last1=Buchan |first1=Craig |title=Owner of Britishvolt site in Northumberland hit with latest financial setback |url=https://www.northumberlandgazette.co.uk/business/owner-of-britishvolt-site-in-northumberland-hit-with-latest-financial-setback-4557196 |access-date=19 March 2024 |work=Northumberland Gazette |date=15 March 2024}}</ref> In June 2024, a High Court judge ordered Recharge Production UK be shut down following Cowling's petition.<ref>{{cite news |last1=Keighley |first1=Tom |title=Company linked to Britishvolt buyout is shut down by High Court |url=https://www.business-live.co.uk/technology/company-linked-britishvolt-buyout-shut-29348821 |access-date=5 December 2024 |work=BusinessLive |date=13 June 2024}}</ref>
In November 2024, administrators moved Britishvolt to a creditors' voluntary liquidation.<ref>{{cite news |title=Failed gigafactory firm Britishvolt to be liquidated |url=https://businesscloud.co.uk/news/failed-gigafactory-firm-britishvolt-to-be-liquidated/ |access-date=4 December 2024 |work=Business Cloud |date=5 November 2024}}</ref>
===Factory site sale=== In April 2024, Britishvolt's site in Blyth was acquired for £110 million by a subsidiary of the private equity Blackstone Group which intended to use the Cambois site for one of the largest data centres in Western Europe,<ref name="BEN-15Apr2024">{{cite news |title=Blackstone to build one of Western Europe’s largest data centres on former BritishVolt site |url=https://benews.co.uk/blackstone-to-build-one-of-western-europes-largest-data-centres-on-former-britishvolt-site/ |access-date=15 April 2024 |work=BE News |date=15 April 2024}}</ref><ref name="BBC-15Apr2024">{{cite news |last1=Denten |first1=Mark |last2=Manning |first2=Jonny |title=Plans for gigafactory ditched in favour of data centre |url=https://www.bbc.co.uk/news/articles/cw4rx2zxy7wo |access-date=15 April 2024 |work=BBC News |date=15 April 2024}}</ref> ending hopes for thousands of manufacturing jobs in the region.<ref name="Jolly-15Apr2024">{{cite news |last1=Jolly |first1=Jasper |title=Britishvolt ‘gigafactory’ site sold for £110m to US private equity firm |url=https://www.theguardian.com/business/2024/apr/15/britishvolt-gigafactory-site-sold-110m-us-private-equity-firm-blackstone-data-centre-northumberland |access-date=15 April 2024 |work=Guardian |date=15 April 2024}}</ref> Blackstone proposed to buy the site for about £20 million for its data centre business, QTS, if Northumberland County Council amended its buy-back rights (agreed on 23 April 2024),<ref name="BBC-23Apr2024">{{cite news |last1=Manning |first1=Jonny |last2=Robinson |first2=James |title=Council paves way for data centre on Britishvolt site |url=https://www.bbc.com/news/articles/c51n2pgm4kxo |access-date=24 April 2024 |work=BBC News |date=23 April 2024}}</ref> followed by phased payments of up to £110 million to the council once planning and power had been secured, leases signed and construction completed.<ref name="Sidders-15Apr2024">{{cite news |last1=Sidders |first1=Jack |title=Blackstone to Buy Britishvolt Site for Massive QTS Data Center |url=https://www.bloomberg.com/news/articles/2024-04-15/blackstone-s-qts-to-buy-britishvolt-site-for-massive-data-center?embedded-checkout=true |access-date=16 April 2024 |work=Bloomberg UK |date=15 April 2024}}</ref> Plans submitted in December 2024 envisaged development of a campus of up to 10 data centre buildings totalling up to 540,000sq m, representing an investment of up to £10bn, with 1,200 long-term construction jobs plus employment in the data centres.<ref>{{cite news |title=Plans go in for £10bn Northumberland data centre |url=https://www.acenet.co.uk/news/infrastructure-intelligence/plans-go-in-for-10bn-northumberland-data-centre |access-date=4 December 2024 |work=Infrastructure Intelligence |date=4 December 2024}}</ref>
==Notes and references== {{notelist}} {{reflist}}
Category:2019 establishments in England Category:Companies based in Northumberland Category:Blyth, Northumberland Category:Lithium-ion batteries Category:Companies that have entered administration in the United Kingdom Category:2024 disestablishments in England