Britishvolt secures investment to help decarbonise the maritime industry

Battery technology company Britishvolt, which is behind plans for a 30GWh Gigafactory in Blyth, has secured investment from a global shipping company as the companies look to accelerate the decarbonisation of the maritime industry.

Scorpio Group has invested in Britishvolt which has bases in the West Midlands and Northumberland.

The companies are now aiming to contribute to the rapid pace of battery innovation in the maritime sector.

Kasra Pezeshki, Britishvolt’s chief investment officer said that the investment is a “clear endorsement of Britishvolt’s vision for 2050, whereby not only electric vehicles adopt our low carbon, sustainable battery cell capacity but also maritime and aviation.”

He added: “These more polluting, heavy duty, modes of transport need to look at best solutions for lowering emissions. Britishvolt batteries can play an integral part in that.”

Filippo Lauro, vice-president of Scorpio Group, added: “Scorpio is delighted to have the opportunity to invest in the exciting next phase of growth for Britishvolt. The battery pioneer’s leadership position and access to the UK’s cutting edge scientific community ensure that we will be able to work together to further accelerate green-propulsion and potentially power storage solutions for maritime.”

David Morant, managing director Scorpio UK, added: “We are delighted to have the opportunity to invest with Britishvolt chief executive and founder, Orral Nadjari, and his world-class team. The UK is a seafaring nation and also a world leader in battery and maritime innovation. This partnership will further solidify that leadership.”

Earlier this year, Britishvolt signed memorandums of understanding with both Lotus Cars and Aston Martin. The partnership with Lotus Cars will involve the development of an electric sports car powered by Britishvolt cells and with advanced electric propulsion technologies developed by Lotus Cars.

Britishvolt’s collaboration with Aston Martin further supports its plans to launch its first battery electric vehicle in 2025.

The partnerships follow its plans to create a Gigafactory which will produce enough batteries for more than 300,00 electric vehicles each year.

The project is also expected to create in excess of 3,000 jobs.