Britishvolt to secure $277 million from UK government for battery plant

British battery makers, Britishvolt, to be allocated more than 200 million pounds from the UK government for its battery giga-plant at Blyth, Northumberland.

UK- based battery manufacturer Britishvolt is closing in to secure some 200 million pounds ($277 million) of funding from the UK government to support the construction of its new Northumberland factory. The clean energy start-up stands to benefit from the British government’s 850 million pound fund for attracting electric vehicle battery (EV) battery production to the UK, which is crucial to sustaining the country’s automotive industry with the planned ban on the sale of new combustion engines after 2030.

Backed by commodities giant Glencore, Britishvolt has been trying to tap the government for support for more than a year. It will be allocated a final amount between 200 million pounds to 250 million pounds within weeks for its 2.6 billion battery giga-plant in Blyth.

Founded in 2019, Britishvolt had no in-house technology, severe financial backing, or any customer agreements when it began scouting a site for its first factory. The battery makers have since secured the Blyth site, which is thought to be the most promising in the UK for a giga-factory, and began its construction work over the summer.