Britishvolt bought by Australian firm Recharge Industries

Key Facts

• Britishvolt had plans to build a £4bn battery plant near the Port of Blyth in Northumberland but collapsed last month after running out of money.
• "The US defence industry has validated it and it is already supplied to the UK navy through a subcontractor."
• The company intends to start by focusing on batteries for energy storage and hopes to have those products available by the end of 2025.
• "The government is ready to stand behind the right company with the right investment because we do believe that a gigafactory here in Blyth would be an appropriate way of building on the skills that local people have, and indeed the edge that this town has already displayed when it comes to renewables and the future of energy," Mr Collard said.

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