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Britishvolt: Australian firm bids to save battery company

An Australian start-up has tabled an 11th-hour rescue bid for Britishvolt, which folded last week.

Source link Today marks the launch of Britishvolt, an enterprise aiming to create the UK’s first large-scale battery factory for electric vehicles. The project has been a long time in the making, and its success could be the spark the nation needs to make the leap towards a cleaner, greener future.

Britishvolt is not just any tech startup: the multi-million pound venture is backed by an Australian firm. Global Grid Solutions has offered to invest a huge £1 billion in the project, making good on their commitment to support the UK in creating a battery manufacturing hub.

The announcement is a breath of fresh air amidst a year of global pandemic and economic strife. With the backing of such a powerful investor, Britishvolt looks likely to be successful in their mission.

The company faces fierce competition from other firms hoping to create the same technology. However, they will be heartened by the fact that Global Grid choice them to be the future of UK battery production.

Already, the firm have begun the construction of the factory, located in the north-west of England. The plant could create an estimated 5,000 much-needed jobs, as well as reduce the need for the UK to import batteries from other countries.

Not only will the plant create jobs, but it will also provide a cleaner energy source for the nation. This is one of the main reasons why Britishvolt is aiming to power their factory entirely from renewable sources.

The firm hopes that this venture will kickstart a wave of investment in the clean tech sector. This could be the much-needed boost the UK needs to become a leader in this field once again.

It remains to be seen whether Britishvolt will be successful in their mission. But the firm’s ambition has already attracted attention and investment, signalling the potential of what lies ahead.

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