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Released January 31, 2022 | GALWAY, IRELAND
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Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--The U.K. government has agreed to fund the nation's first 'gigafactory' for the production of electric vehicle (EV) batteries to the tune of £100 million (US$120 million).
It has agreed financial support for Britishvolt, the company behind the project to build the U.K.'s first EV battery plant on a 235-acre (95-hectare) site at the former Blyth coal-fired plant site in Northumberland. Industrial Info reported that the project had received the planning green light last July. For additional information, see July 19, 2021, article--U.K. Green Lights First EV Battery 'Gigafactory'. The company estimates that the plant will need a total of £1 billion (US$1.4 billion) in investment and will have a capacity of 300,000 EV batteries a year by 2027. The first phase of the project is expected to go live in 2023. Industrial Info is tracking more than 50 EV battery projects in Europe in excess of US$22 billion, ranging from grassroot battery plants to plant expansions and production line additions.
The government has, through its Automotive Transformation Fund, agreed a long-term partnership with new project investors, Trixtax and abrdn, that should deliver up to £1.7 billion (US$2 billion) in private funding. Britishvolt said that Tritax and abrdn are becoming its "partner to fund the build of the project, shell and core, as well as to develop the associated supplier park." Tritax is the leading investor in U.K. and European logistics real estate.
"Backed by government and private sector investment, this new battery factory will boost the production of electric vehicles in the U.K., whilst levelling up opportunity and bringing thousands of new highly-skilled jobs to communities in our industrial heartlands," commented U.K. Prime Minister Boris Johnson.
Peter Rolton, Britishvolt's executive chairman, told media: "The U.K. automotive industry needs a local source of batteries. Chinese or other Asian imports are not going to be an option. There will be very, very significant shortfalls of batteries. We are absolutely vital to maintain the U.K. industry and support those jobs."
He added: "The news is the first step in creating a commercialised battery ecosystem that perfectly aligns with the existing R&D ecosystem. Britishvolt will be the anchor for attracting further sections of the supply chain, be it refining or recycling, to co-locate on the Britishvolt site. This not only shortens supply chains but also allows for partners to access the abundance of renewable energy on site to truly power low carbon, sustainable battery production."
Following shortly after the funding announcement, Britishvolt revealed a two-year, multimillion-dollar co-development framework deal with the UK Battery Industrialisation Centre (UKBIC) to produce its next generation of battery cells. UKBIC is publicly funded with a 20,000-square-meter research facility that enables all organisations to test whether their advanced technologies can be scaled-up successfully before committing to the huge investment required for mass production. The manufacturing equipment installed there covers the whole production process from electrode manufacture and cell assembly to formation, ageing and testing, battery modules and packs. Initial solutions will focus on high nickel, increased energy density, materials to produce and test batteries with greater performance and range. In early testing at the close of 2021, its high technical maturity development cells manufactured and tested at UKBIC "beat expectations."
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
It has agreed financial support for Britishvolt, the company behind the project to build the U.K.'s first EV battery plant on a 235-acre (95-hectare) site at the former Blyth coal-fired plant site in Northumberland. Industrial Info reported that the project had received the planning green light last July. For additional information, see July 19, 2021, article--U.K. Green Lights First EV Battery 'Gigafactory'. The company estimates that the plant will need a total of £1 billion (US$1.4 billion) in investment and will have a capacity of 300,000 EV batteries a year by 2027. The first phase of the project is expected to go live in 2023. Industrial Info is tracking more than 50 EV battery projects in Europe in excess of US$22 billion, ranging from grassroot battery plants to plant expansions and production line additions.
The government has, through its Automotive Transformation Fund, agreed a long-term partnership with new project investors, Trixtax and abrdn, that should deliver up to £1.7 billion (US$2 billion) in private funding. Britishvolt said that Tritax and abrdn are becoming its "partner to fund the build of the project, shell and core, as well as to develop the associated supplier park." Tritax is the leading investor in U.K. and European logistics real estate.
"Backed by government and private sector investment, this new battery factory will boost the production of electric vehicles in the U.K., whilst levelling up opportunity and bringing thousands of new highly-skilled jobs to communities in our industrial heartlands," commented U.K. Prime Minister Boris Johnson.
Peter Rolton, Britishvolt's executive chairman, told media: "The U.K. automotive industry needs a local source of batteries. Chinese or other Asian imports are not going to be an option. There will be very, very significant shortfalls of batteries. We are absolutely vital to maintain the U.K. industry and support those jobs."
He added: "The news is the first step in creating a commercialised battery ecosystem that perfectly aligns with the existing R&D ecosystem. Britishvolt will be the anchor for attracting further sections of the supply chain, be it refining or recycling, to co-locate on the Britishvolt site. This not only shortens supply chains but also allows for partners to access the abundance of renewable energy on site to truly power low carbon, sustainable battery production."
Following shortly after the funding announcement, Britishvolt revealed a two-year, multimillion-dollar co-development framework deal with the UK Battery Industrialisation Centre (UKBIC) to produce its next generation of battery cells. UKBIC is publicly funded with a 20,000-square-meter research facility that enables all organisations to test whether their advanced technologies can be scaled-up successfully before committing to the huge investment required for mass production. The manufacturing equipment installed there covers the whole production process from electrode manufacture and cell assembly to formation, ageing and testing, battery modules and packs. Initial solutions will focus on high nickel, increased energy density, materials to produce and test batteries with greater performance and range. In early testing at the close of 2021, its high technical maturity development cells manufactured and tested at UKBIC "beat expectations."
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
