Highlights GBP1.7 billion in private funding from Tritax and abrdn Undisclosed govt funding said to be around GBP100 mil: source UK-based battery maker Britishvolt has received funding from the UK government, as well as GBP1.7 billion ($2.3 billion) from private investors Tritax and abrdn for the construction of its gigafactory in Blyth, Northumberland, it said Jan. 21.
When contacted by S&P Global Platts, Britishvolt was unable to disclose the amount of government funding, although a source close to the matter said it was understood to be in the region of GBP100 million. The UK Government will provide the funding support through the Automotive Transformation Fund, delivered by the Advanced Propulsion Center, or APC. The ATF is a government funding program that aims to create a sustainable, zero emission automotive supply chain in the UK and help deliver […]