Scale Facilitation-backed Recharge Industries completed the acquisition of Britishvolt.

Scale Facilitation-backed Recharge Industries, an Australian battery technology start-up, completed the acquisition of Britishvolt, the collapsed UK startup which had struggled to fund a major electric-vehicle battery factory in northern England. Financial terms were not disclosed. “Our proposal combined our financial, commercial, technology and manufacturing capabilities, with a highly credible plan to put boots and equipment on the ground quickly. Our technology – including an exclusive license for the intellectual property and battery technology – has been developed and validated over the last decade through C4V in the US and will be the backbone of both gigafactories in Geelong and Cambois. 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," David Collard, Recharge Founder.