Britishvolt welcomes investment from shipping firm Scorpio Group as both look to decarbonize marine industry in “wave to zero”
May 18, 2022
- Battery technology pioneer Britishvolt announces investment from Scorpio Group, as both companies look at importance of batteries to the decarbonsiation of the shipping industry.
- Investment in-line with Britishvolt’s 2050 roadmap to decarbonize heavy industry including marine and aviation with battery solutions.
- Maritime sector in vanguard of the search for new fuels and propulsion in the Race to Zero.
- Further announcements expected from Britishvolt in coming months on chemistries and cell formats.
Northumberland, UK, 18/05/2022 – Battery technology pioneer Britishvolt is delighted to receive a strategic investment from Scorpio Group, with both companies aligned on the need to decarbonize the maritime industry.
This marks a significant move in the right direction for society in the “Race to Zero”, with the maritime sector playing its part in the search for new fuels and propulsion systems in the “Wave to Zero”.
Through this partnership, Britishvolt and Scorpio will seek to contribute to the rapid pace of battery innovation in the maritime space. The future of maritime propulsion and power storage is likely to lead the shipping industry to increasingly embrace battery power.
“The investment by Scorpio is a clear endorsement of Britishvolt’s vision for 2050, whereby not only electric vehicles adopt our low carbon, sustainable battery cell capacity but also maritime and aviation.
“These more polluting, heavy duty, modes of transport need to look at best solutions for lowering emissions. Britishvolt batteries can play an integral part in that. The news is the perfect curtain raiser for further announcements that will be following shortly regarding our cell chemistries and formats.”
With this investment Scorpio demonstrates its determination to play a leading role in the decarbonisation of the maritime sector. In Britishvolt, Scorpio recognises the opportunity to partner with a technology and battery production leader with a clear roadmap to accelerating the decarbonisation of society.”
Kasra Pezeshki, Britishvolt, Chief Investment Officer
“Scorpio is delighted to have the opportunity to invest in the exciting next phase of growth for Britishvolt. The battery pioneer’s leadership position and access to the UK’s cutting edge scientific community ensure that we will be able to work together to further accelerate green-propulsion and potentially power storage solutions for maritime.”
Filippo Lauro, Vice-President, Scorpio Group
“We are delighted to have the opportunity to invest with Britishvolt CEO/Founder, Orral Nadjari, and his world-class team. The UK is a seafaring nation and also a world leader in battery and maritime innovation. This partnership will further solidify that leadership.
The Scorpio Group looks forward to building on its decades of maritime innovation together with Britishvolt.”
Earlier this year, Britishvolt signed memorandums of understanding with both Lotus Cars and Aston Martin. The partnership with Lotus Cars will see Britishvolt and the Norfolk-based carmaker develop an electric sports car powered by Britishvolt cells and with advanced electric propulsion technologies developed by Lotus Cars.
Britishvolt’s collaboration with Aston Martin, the ultra-luxury carmaker, further supports its plans to launch its first battery electric vehicle in 2025.
David Morant, Managing Director Scorpio UK
“Britishvolt will be a leader in the most important race facing humanity and our planet – the race to carbon net zero. Or in this case “wave to zero.”
We will be a positive force not just for our customers in helping them to achieve their decarbonisation goals, but also to those in the communities where we and our suppliers operate, ensuring that they too have a brighter future. The time has come to transition from fossil fuels to clean, renewable, low carbon electricity. The world deserves a clean air future for all. This is our mission at Britishvolt.”
Orral Nadjari, Founder and CEO, Britishvolt
Notes to Editors
For more information please contact:
Ben Kilbey, Britishvolt’s Chief Communications Officer
+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.
