After entering administration, UK-based gigafactory Britishvolt is to continue under the ownership of Recharge Industries.

The Australian firm has been named as the preferred bidder for the collapsed venture in Blyth, Northumberland, and intends to continue the project. Recharge Industries has experience in the area and is building a similar facility in Melbourne Australia.

Gigafactories are perceived as a key element in manufacture of EVs, and other electrical storage projects, but Britishvolt collapsed after failing to hit agreed milestones and this secure Government funding. Recharge Industries, however, believes that the combination of Australian mineral supply, US capital and UK location can create a global force in the technologies.

EY, the company in charge of the administration, said that it had received several offers including several offers from British companies. EY has, however, also come under some fire for its ‘twin roles’ of being both an adviser to Britishvolt and then its administrator.

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