In October 2017 the British Government put investment in battery technologies at the centre of its industrial strategy. The right decision. It is a strategic imperative that Britain vastly increases its battery making capacity. The future of the British car industry and energy sectors depend on it.
Fast forward to less than three years later and at Britishvolt, we are all focused on one mission: to build the UK’s first battery gigaplant. A gigaplant that is an essential component to a zero-emissions, electrified future that rely on world-class batteries to power it.
Fail and we fall behind. Other countries will step in and take leadership, just as China has done on a global scale. We’ll have to rely on imported technology to fulfil our future ambitions, which could be even more unenviable post-Brexit. Imagine if Britain had missed out on the first industrial revolution? I believe that this would be an opportunity missed on that scale.
We at Britishvolt know that this is impossible without the right investment and government funding. But this is crucial and capital investment will follow the future dynamic of the automotive industry. Even more so if this is a committed and joined-up approach between industry, academia, and government. Britishvolt will create the right foundation for investment and we are hoping the government will follow suit.
We are gaining momentum. We are already deploying capital, enabling us to do a thorough cost and operations analysis and have now signed an MOU with the Welsh Government to build the gigaplant in St Athan, South Wales. This will be hugely significant for jobs and inward investment in the area.
Hugely significant for me, too. I attended Cardiff University, lived in the city for seven years, and know all about the community spirit, skills and positivity that pervades in an area that has visibly suffered from lack of investment and lack of attention.
Britishvolt is playing a key role. Every day I engage with experts that are taking us one step closer. We will get there.
Founder / CEO at Britishvolt
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.