Battery technology pioneer Britishvolt has received new investment from shipping giant Scorpio Group, as part of efforts by the latter firm to reduce carbon emissions from the maritime industry.
Britishvolt is currently working on a new battery gigafactory in Northumberland, and says that the new investment will be a significant step in helping it in the “race to zero” – and helping the maritime sector find new fuels and propulsion systems in the “wave to zero”.
Scorpio Group, founded in 2009, is a major maritime shipping firm, and has recently been investing in firms that can help address emissions - includiing a drone company. Scorpio and Britishvolt will aim to contribute to battery innovation within the maritime industry.
Earlier this year Britishvolt announced it would be partnering with Lotus and Aston Martin. The firm will work with Norfolk-based car maker Lotus to develop an electric sports car powered by Britishvolt battery cells.
Britishvolt says the future of maritime propulsion and power storage is “likely to lead the shipping industry to increasingly embrace battery power”.
Britishvolt is aiming to decarbonise heavy industries, including marine and aviation, by 2050.
“The investment by Scorpio 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,” said Kasra Pezeshki, Britishvolt's chief investment officer.
“In Britishvolt, Scorpio recognises the opportunity to partner with a technology and battery production leader with a clear roadmap to accelerating the decarbonisation of society.”
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