7/15/2023 0 Comments Download with the lights out![]() It appears the Administration was due to insufficient equity investments for both the ongoing research and the development of its sites in the Midlands and the north-east of England. ![]() ![]() However, the word 'giga' is in there - meaning a use of measurement to a factor of ten to the power of nine.īritishvolt was said, at the beginning of this year, to be in talks to sell the majority of its shares to a consortium of investors, in a deal that could allow it to continue pursuing the building of this factory of ten to the power of nine to be built and maybe that is something Dan, Joanne and Alan of EY will be looking at as Administrators. ![]() We looked up the word 'gigafactory', but the Oxford Dictionary disavowed itself of any meaning or responsibility. On the tenth of this month it was reported that Britishvolt was in talks to sell the majority of its shares to a consortium of investors, in a deal that could allow it to continue pursuing its goal of building a UK 'gigafactory'. The appointment was made by the directors in accordance with paragraph 22 of Schedule B1 to the Insolvency Act 1986." Regrettably, staff were told the “majority” of its 300 employees would be immediately made redundant last Tuesday. ![]() The shame is that some of the footage is a bit difficult to see now as it is covered by a notice that reads: "On 17 January 2023, the Company entered Administration and Dan Christopher Hurd, Joanne Honor Robinson and Alan Michael Hudson, partners of EY Parthenon, were appointed as Joint Administrators ('the Administrators'). When you access the website of Britishvolt Limited you are greeted by a cartoon click-'on' image and a time lapse sequence of an impressive (but as yet imaginary) factory being built and swathed in solar panels. ![]()
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