UK'S BRITISHVOLT SECURES FUNDING FOR NORTH-EAST GIGAFACTORY

21st Jan 2022

Bririshvolt, Britain's foremost investor in battery cell technologies and research and development, has secured government funding for its proposed factory in the North-East.

Via the Automotive  Transformation Fund, Britishvolt has gained a commitment for £100m of funding.from the government. A further £1.7bn of funding should be available from investors Tritax and Abrdn.

The company is now moving ahead with plans to build a Gigaplant in Northumberland which will have the capacity to build enough cells for over 300,000 electric vehicle battery packs annually.

"This announcement is a major step in putting the UK at the forefront of the global energy transition, unlocking huge private sector investment that will develop the technology and skills required for Britain to play its part in the next industrial revolution," said Britishvolt Executive Chairman Peter Rolton.

"I'm especially proud that this is such a major boost for Northumberland, bringing around 3,000 direct highly-skilled jobs and another 5000+ indirect wider supply chain roles into the region."

The Gigaplant will be situated at the site of the former Blyth Power Station in Cambois, Northumberland. The project will be built in phases and is planned to have a total capacity of over 30GWh by 2030.

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