US-Australian company Recharge Industries has acquired insolvent British battery startup Britishvolt. The deal had already become apparent in early February and, according to an official statement by Recharge Industries, has now been completed. Britishvolt’s planned battery cell factory in the northern English county of Northumberland has therefore been saved.
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Recharge Industries is close to acquiring the assets of the insolvent battery start-up Britishvolt. The auditing firm EY, which is in charge of the insolvency administration, expects to complete the deal is expected to be completed within the next seven days.
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The US-Australian company Recharge Industries wants to build a large battery cell factory in Australia and has appointed Accenture as an engineering services provider to drive the project forward. At full capacity, the lithium-ion battery cell factory is expected to offer an annual capacity of up to 30 GWh.
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