The Joint Administrators of Power by Britishvolt Limited have completed the sale of the majority of the business and assets to Recharge Production UK Limited (“Recharge”) for an undisclosed sum.

The remaining Britishvolt employees have transferred to Recharge as part of the transaction. 

The sale of the business will help to support the development of technology and infrastructure needed for the UK’s energy transition.

The Joint Administrators from EY were appointed on 17 January 2023 after the Company faced insufficient equity investment for both the ongoing research Britishvolt was undertaking and the development of its sites in the Midlands and the North East of England.