Recharge Industries’ attempt to buy the Britishvolt site is in danger of failing due to a dispute between the Australian company and administrator EY over an electricity supply contract signed by the battery start-up in bankruptcy, the Financial Times reported on Friday.
Recharge Industries and the UK accountancy firm are at an impasse over payments related to the transfer of a grid connection contract with Britain’s National Grid, according to the report, citing people familiar with the matter.
Privately held Recharge Industries bought the intellectual property from Britishvolt for £8.6m last month but has yet to pay the £9.7m for the land despite the deadline having passed, according to the FT report.
