Recharge Industries has been successful in its bid for ownership of collapsed battery maker Britishvolt. Recharge Industries is a ‘start-up’ company specialising in production and research of battery technology.

Based in Geelong, Australia, the firm is currently developing Australia’s first large-scale lithium-ion cell production facility to provide safer, more efficient and recyclable batteries.

Britishvolt controversially collapsed last month when funds ran out to continue developing the plant, leaving the fate of the £3.8bn battery plant in Cambois, near Blyth in Northumberland, hanging in the balance.

Under plans presented by Recharge Industries, the Britishvolt project will be revived to build the UK’s first Gigafactory, providing thousands of green, skilled and local jobs that will drive local and national benefits.

However, the business plan suggests that battery storage units will be the main focus of the production, rather than power packs for electric cars.

Commenting on the successful bid, David A. Collard, Founder and CEO of Recharge’s parent company said: “We are thrilled to have been successful in our bid for ownership of Britishvolt; our plans are the right ones for the local community and the UK economy. “Our proposal combined our financial, commercial, technology and manufacturing capabilities, with a highly credible plan to put boots and equipment on the ground quickly.

“Backed by our global supply chain, strategic delivery partners and a number of significant customer agreements in place, we’re confident of making the Cambois Gigafactory a success and growing it into an advanced green energy project. We can’t wait to get started and want to start as soon as possible.”