PLANS for a huge battery plant in Northumberland, which will bring around 8,000 jobs to the area, have received a £1.7bn funding boost that secures its long-term future.
Government funding believed to be around £100million was followed by a long-term partnership with Trixtax and abrdn that will deliver £1.7bn in private funding to help propel the UK’s energy transition on the road to net zero.
The project on a 93-hectare site at the former Blyth Power Station in Cambois is a major boost for Northumberland, and as well as 3,000 direct highly-skilled jobs, another 5,000 will be created in the associated supply chains.
News of the investment has delighted bosses at the plant, which will manufacture some of the world’s most sustainable, low carbon battery cells, to be built in phases towards total capacity from the end of 2027.
Once at full capacity, the Gigaplant - the fourth largest building in the UK - will have a production capability equating to approximately enough cells for around 300,000 electric vehicle battery packs per year, intended primarily for the automotive industry.
Read more: Work starts on Northumberland Gigaplant
Peter Rolton, Britishvolt Executive Chairman, said: “This announcement is a major step in putting the UK at the forefront of the global energy transition, unlocking huge private sector investment that will develop the technology and skills required for Britain to play its part in the next industrial revolution.
"The news is the first step in creating a commercialised battery ecosystem, that perfectly aligns with the existing R&D ecosystem. Britishvolt will be the anchor for attracting further sections of the supply chain, be it refining or recycling, to co-locate on the Britishvolt site. This not only shortens supply chains but also allows for partners to access the abundance of renewable energy on site to truly power low carbon, sustainable battery production.
"It will also allow us to catapult our unique tailormade business proposition on a global scale, with sites already selected for development in other countries.
"I'm especially proud that this is such a major boost for Northumberland – the county of my birth – bringing around 3,000 direct highly-skilled jobs and another 5,000+ indirect wider supply chain roles into the region.
"This is a truly historic day and marks the start of a truly exciting move towards a low carbon future. One with Britishvolt batteries at the very centre of that strategy.”
Prime Minister Boris Johnson said: “Britishvolt’s plan to build a new gigafactory in Northumberland is a strong testament to the skilled workers of the North East and the UK’s place at the helm of the global green industrial revolution.
“Backed by Government and private sector investment, this new battery factory will boost the production of electric vehicles in the UK, whilst levelling up opportunity and bringing thousands of new highly skilled jobs to communities in our industrial heartlands.”
Read more: Nissan to create thousands of jobs with new battery plant
Business Secretary Kwasi Kwarteng added: “Today’s news is a major boost for Britain and a resounding vote of confidence in the North East economy.
“Britishvolt’s planned Gigafactory will not only enable the UK to fully capture the benefits of a booming electric vehicle market, but will bring thousands of highly-skilled, well-paid jobs to the North East.
“In this global race between countries to secure vital battery production, this Government is proud to make the investment necessary to ensure UK’s retains its place as one of the best locations in the world for auto manufacturing.”
James Dunlop, CEO of the key investor Tritax Group, said: "Blyth is mission critical infrastructure of national importance. The development will help realise the UK Government’s commitment to deliver British made batteries for the automotive sector in a world leading energy cluster in the Northeast.
"We have a strong track record of identifying operators and projects at the epicentre of structural change and as such are proud to be working alongside Britishvolt, the UK Government and a world class professional team to unlock a greener future for UK plc”
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