Power By Britishvolt - Case Update

Joanne Robinson, Alan Hudson and Daniel Hurd of EY, the joint administrators of collapsed startup lithium-ion battery manufacturer Britishvolt, have reported that Recharge still hasn’t paid the final instalment of the almost £8.6 million purchase price that was due on 5 April of last year. As a result, the joint administrators are assessing their options.

According to their most recent report, the joint administrators have held discussions with a number of additional parties who have suggested they may be interested in acquiring the proposed gigafactory site in Northumberland, and negotiations remain ongoing. The joint administrators have not formally terminated the agreement with Recharge.

The joint administrators have been assisted by Dentons. Their latest progress report can be found HERE.