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Financial Times — Companies — Britishvolt acquisition — Batteries — Energy Sector — Uk Companies

Britishvolt deal at risk of collapse over power supply contract

Recharge Industries' acquisition of Britishvolt's site in Blyth, UK is at risk due to a dispute over a power supply contract signed by the failed battery start-up.

1 min read
  • Recharge Industries' purchase of Britishvolt site at risk due to dispute over power supply contract with administrator EY.
  • Deal deadline passed, with Recharge yet to pay £9.7m for the land in Blyth, north-east England.
  • The two sides hit an impasse over payments related to transferring a grid connection contract with National Grid.
  • Britishvolt's collapse and troubles for its successor dealt a blow to the UK's ambitions to foster an electric car industry.
  • The Blyth site is widely considered one of the best in the UK and is the ultimate prize for Recharge Industries.
Britishvolt deal at risk of collapse over power supply contract
Deadline for Recharge Industries to finalise purchase of site runs into impasse with EY
Financial TimesHarry Dempsey

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