Britishvolt’s new owners are said to be close to a deal to acquire the collapsed company’s site in Blythe, Northumberland, according to a report today.
Australian firm Recharge Industries bought Britishvolt from its administrators earlier this year, with talks ongoing since about the use of the site of the proposed electric vehicle (EV) battery gigafactory.
A deal is "close", according to the BBC today, which quoted people familiar with the matter.
According to the report, Recharge would also pay administrator EY £2.5 million for outstanding fees and £11 million to property investor Katch.
Recharge is also said to be trying to tie up a deal to supply electric batteries to power vehicles for the Australian military.
EDEA, another Aussie energy firm, has been involved in talks with Recharge over the contract, which would mean smaller-scale production than the original plan for mass volumes of EV batteries.
The BBC reported that some local councillors still have doubts over Recharge's ability to deliver the plant given its lack of manufacturing experience, but added a new proposed structure would ultimately see Recharge Industries rent the site from a joint venture majority owned by property investor Tritax.
Recharge gaining control of the site could also lead to other potential investors signing up for the project.
BritishVolt collapsed after failing to hit milestones that would have seen it granted UK government support.