The firm behind plans to create a £1.6bn gigaplant in Northumberland has secured investment that signals plans to power maritime as well as automotive vehicles.
Britishvolt’s is working on plans on the former Blyth Power Station coal yards, which is hoped will create 3,000 direct jobs and another 5,000 through its supply chain once it opens in 2024.
The company – which secured “tens of millions” in funding from the Government – has already signed memorandums of understanding with both Lotus Cars and Aston Martin, which will see it develop electric vehicles powered by Britishvolt cells.
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Now Britishvolt is poised to explore battery power solutions for the maritime industry after securing the undisclosed investment from Monaco-based Scorpio Group, which has been investing in and operating seaborne transportation for almost 100 years.
Scorpio, which has also invested in the next generation of wind turbine installation vessels, is firmly focused on the need to decarbonize the maritime industry. The two companies say the deals marks a significant move in the right direction, with the maritime sector playing its part in the search for new fuels and propulsion systems in the ‘wave to zero’.
Orral Nadjari, founder and CEO, Britishvolt, added: “Britishvolt will be a leader in the most important race facing humanity and our planet – the race to carbon net zero. Or in this case ‘wave to zero’.
“We will be a positive force not just for our customers in helping them to achieve their decarbonisation goals, but also to those in the communities where we and our suppliers operate, ensuring that they too have a brighter future. The time has come to transition from fossil fuels to clean, renewable, low carbon electricity. The world deserves a clean air future for all. This is our mission at Britishvolt.”
Through the partnership, Britishvolt and Scorpio will seek to contribute to the rapid pace of battery innovation in the maritime space, recognising the need for the shipping industry to embrace battery power.
Kasra Pezeshki, Britishvolt chief investment officer, added: “The investment by Scorpio is a clear endorsement of Britishvolt’s vision for 2050, whereby not only electric vehicles adopt our low carbon, sustainable battery cell capacity but also maritime and aviation.
“These more polluting, heavy duty, modes of transport need to look at best solutions for lowering emissions. Britishvolt batteries can play an integral part in that.”
Filippo Lauro, vice president at Scorpio Group, said: “Scorpio is delighted to have the opportunity to invest in the exciting next phase of growth for Britishvolt. The battery pioneer’s leadership position and access to the UK’s cutting edge scientific community ensure that we will be able to work together to further accelerate green-propulsion and potentially power storage solutions for maritime.”
David Morant, managing director, Scorpio UK, said: “The UK is a seafaring nation and also a world leader in battery and maritime innovation. This partnership will further solidify that leadership. The Scorpio Group looks forward to building on its decades of maritime innovation together with Britishvolt.”
The partnership with Lotus Cars will see Britishvolt and the Norfolk-based carmaker develop an electric sports car powered by Britishvolt cells and with advanced electric propulsion technologies developed by Lotus. Britishvolt’s collaboration with Aston Martin, the ultra-luxury carmaker, further supports its plans to launch its first battery electric vehicle in 2025.
Britishvolt has also been busy securing deals with mineral suppliers, establishing sustainable supply chains for key battery components.
In March it unveiled a Memorandum of Understanding with VKTR, will see the firms work together on developing a facility in Indonesia for nickel compound that can supply battery manufacturers as well as the Blyth factory. Meanwhile, it also has a strategic partnership with Glencore for the supply of responsibly sourced cobalt, another vital battery raw material, a deal which saw the mining giant take a stake in the company.
