Power By Britishvolt Limited (12381543): administration
- Status
- Administration ended
- Administration began
- 2023-01-17
- Administrators' firm
- EY
- Formerly
- Power By Britishvolt PLC; Power By Britishvolt Limited
- Incorporated
- 2019-12-31
- Location
- Birmingham
- Industry
- 27200 Manufacture of batteries and accumulators
Why it went into administration
- Cash flow / liquidity pressure
- Energy costs
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 31 December 2019, with the intention of i) developing sustainable, high-performance battery cells for the automotive and wider transportation sectors and ii) developing and operating the Uk’s first Gigaplant site for the production of battery cells in Cambois, Northumberland (at a site owned by its subsidiary, BVP).
Prior to our appointment, the Company was developing and testing prototype EV batteries, working closely with its R&D partners, and had pitched these products and provided samples and prototypes to certain OEMs with the aim of securing customer commitments. To this end, we understand the Company had signed MOUs with two UK based OEMs and was looking to agree JDAs with other OEMs.
Separately, the Company was progressing its plans to develop a research and development and “pilot line” manufacturing facility in Leamington Spa, a “scale-up” line manufacturing facility in Hams Hall and the Gigaplant site in Cambois, Northumberland, for the production of its battery cells.
Administrators' statement of proposals (2023-03-22) · Companies House register