Tritax, abrdn to provide €2b in private financing for UK gigafactory

Tritax and abrdn have signed a long-term partnership with electric-vehicle battery pioneer Britishvolt to provide £1.7 bn (€2 bn) in private funding for the development of a gigafactory in Northumberland, UK.

The project is also receiving support from the Government through the Automotive Transformation Fund (ATF), a funding programme with the aim of creating a sustainable, zero emission automotive supply chain in the UK.
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.’
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.’
James Dunlop, CEO, Tritax Group, said: ‘The £3.8 bn scheme will create a sustainable and green powered ecosystem for UK battery and EV manufacturing.  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.’
The transformation and development of the 93-hectare site is underway by Britishvolt’s construction partner ISG. Advanced works are progressing to support the design process and the onsite infrastructure required to deliver a project of this scale.


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