Britishvolt Confirms UK Government Funding Boost for its Battery Cell Gigaplant
July 28, 2022
- Britishvolt receives confirmation from the UK Government that it is to receive funding from the Advanced Propulsion Centre’s Automotive Transformation Fund (ATF)
- ATF funding supports Britishvolt’s plans to build a £3.8 billion advanced technology battery cell Gigaplant in Northumberland
- One of the UK’s biggest-ever industrial investments and the largest in the North East of England since Nissan’s arrival in 1984
- Intended to create over 3,000 skilled direct jobs onsite at full production, plus a further +5,000 in the wider supplier chains
- The Britishvolt Gigaplant supports the UK Government’s Ten Point Green Recovery Plan and is an important step to the UK becoming a net zero economy by 2050
Northumberland, 27/07/2022:
Battery technology pioneer Britishvolt has today confirmed that it is to receive funding from the UK Government through its Automotive Transformation Fund run by the Advanced Propulsion Centre UK following a confirmation letter.
“This is great news for our plans to construct the UK’s premier battery cell Gigaplant in Northumberland. While the overwhelming majority of investment for the project will come from private sources, the ATF’s grant funding is very important in proving that the UK Government is confident that we will deliver on our plans, and this will help to generate further private investment. It’s a clear indicator of the Government’s policy towards electrification of society in the Race to Zero.
“We want to thank the UK Government for its support for this critical investment which will create over 3,000 direct and 5,000 indirect jobs, and that will also strengthen the UK’s technological base and play a key role in helping the country reach its net zero target by 2050. The Britishvolt Gigaplant will create both the jobs and the industry of the future.”
Isobel Sheldon OBE, Chief Strategy Officer, Britishvolt
“I’m delighted to confirm we have now provided Britishvolt with a final grant offer through the Automotive Transformation Fund. The Blyth gigafactory will turbocharge our plans to embed a globally competitive electric vehicle supply chain in the UK and it is fantastic to see how the project is progressing.
The vast site will ensure Britain can fully capture the benefits of the booming global electric vehicle market. The well-paid jobs and growth it will generate for the North East of England will be transformational and are exactly the reason we are investing to make the UK the best place in the world for automotive manufacturing.”
Kwasi Kwarteng, Business Secretary
The total investment for Britishvolt’s Blyth gigaplant is around £3.8 billion, making it the largest industrial investment in North East England since Nissan’s arrival in 1984 and one of the largest-ever industrial investments in the UK. At full production enough battery cells will be produced for more than 300,000 lithium-ion batteries a year. The facility is expected to employ over 3,000 people directly in skilled jobs, with another 5,000 in the wider supply chains.
Britishvolt’s Gigaplant is regarded as being strategically important for the UK automotive industry for it to maintain its competitive advantage as it accelerates towards an increasingly electric future. It also supports the UK Government’s Ten Point Green Recovery Plan and is an important step to the UK becoming a net zero economy by 2050.
Notes to Editors
For more information please contact:
Ben Kilbey, Britishvolt’s Chief Communications Officer:
[email protected] +44 7305 032904
About Britishvolt
Battery pioneer and technology innovator, Britishvolt, is focused on development of next-generation battery cell technologies and associated research and development. It is dedicated to developing the future of electrified transportation and sustainable energy storage, producing best-in-class, low-carbon, sustainable, responsibly manufactured lithium-ion battery solutions. Not all batteries are created equal.
Her Majesty’s UK Government announced on January 21, 2022, its support for Britishvolt from its Automotive Transformation Fund delivered by the Advanced Propulsion Centre.
Britishvolt acquired battery cell developer and manufacturer, EAS, in May 2022, that will allow it to develop and scale up its larger 46xx high-performance cell formats and get them to customers quicker and more efficiently. The deal is subject to completion and any regulatory approvals.
Britishvolt believes that low carbon, sustainable, responsibly manufactured battery cells can help positively change the planet. The time has come to transition from fossil fuels to clean, renewable, low carbon electricity. The world deserves a clean air future for all.
Safe Harbour.
Certain statements in this press release concerning our future growth prospects are forward-looking statements regarding our future business expectation intended to qualify for the ‘safe harbor’ under the U.S. Private Securities Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements.
The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, competition including those factors which may affect our cost advantage, equipment procurement, wage increases, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time contracts or time and material construction contracts, customer concentration, restrictions on immigration, industry segment concentration, our ability to manage international operations, reduced demand, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages related to battery service agreements, the success of the companies in which Britishvolt has made strategic partnerships, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies and unauthorised use of our intellectual property and general economic conditions affecting our industry. In addition, please note any forward-looking statements contained herein are based on assumptions we believe to be reasonable as of the date of this press release.
