Published By Insider Media
BACKING FOR NORTH EAST GIGAFACTORY HAILED
Government funding for the 30GWh Britishvolt Gigafactory in the North East has been hailed as a "major step in putting the UK at the forefront of the global energy transition".
Britishvolt has received an offer of government funding tough the Automotive Transformation Fund for the Gigafactory which, once complete, would produce enough batteries for more than 300,000 electric vehicles each year.
The project is set to be built in three phases, each of 10GWh to a total capacity of 30GWh.
It is expected to create 3,000 direct highly-skilled jobs, and another 5,000 indirect jobs in the wider supply chain.
Peter Rolton, Britishvolt executive chairman, hailed the funding announcement as a "truly historic day".
He said: "This announcement is a major step in putting the UK at the forefront of the global energy transition, unlocking huge private sector investment that will develop the technology and skills required for Britain to play its part in the next industrial revolution.
"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.
"It will also allow us to catapult our unique tailormade business proposition on a global scale, with sites already selected for development in other countries."
Britishvolt has also announced that it has partnered with Tritax and abrdn to fund the build of the project, shell and core, as well as to develop the associated supplier park.
James Dunlop, chief executive at Tritax Group, said: "The £3.8bn scheme will create a sustainable and green powered ecosystem for UK battery and EV manufacturing.
"Blyth is mission critical infrastructure of national importance. The development will help realise the UK Government's commitment to deliver British made batteries for the automotive sector in a world leading energy cluster in the Northeast."
Julian Hetherington, automotive transformation director at the Advanced Propulsion Centre, which manages the Automotive Transformation Fund on behalf of the UK, added: "This is a pivotal moment for the UK automotive sector as it demonstrates that the UK is a highly competitive landscape for investment in the full R&D and manufacturing ecosystem for these vital technologies.
"I'm delighted that this has been recognised by Britishvolt, with whom we have been working since late 2019, and who have had a transformative impact in awakening the battery supply chain sector to opportunities in the UK.
"We have a vibrant and diverse industry, and Britishvolt's significant investment in R&D and manufacturing will help establish competitive supply chains and satisfy this burgeoning demand – and in doing so will create thousands of highly-skilled, green jobs, regenerating a site that was previously home to the UK's largest coal-fired power station. This is true transformation, unlocked by the government's commitment to support green growth and levelling-up."