VS1 Cloud Blog

VS1 Cloud Blog

Britishvolt receives strategic investment to help it decarbonize marine industry in “Wave to Zero”

18th May 2022 | Manufacturing

Battery technology pioneer Britishvolt is delighted to receive a strategic investment from Scorpio Group, with both companies aligned on the need to decarbonize the maritime industry.

This marks a significant move in the right direction for society in the “Race to Zero”, with the maritime sector playing its part in the search for new fuels and propulsion systems in the “Wave to Zero”.

Through this partnership, Britishvolt and Scorpio will seek to contribute to the rapid pace of battery innovation in the maritime space. The future of maritime propulsion and power storage is likely to lead the shipping industry to increasingly embrace battery power.

Kasra Pezeshki, Britishvolt, Chief Investment Officer: “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.

“These more polluting, heavy duty, modes of transport need to look at best solutions for lowering emissions. Britishvolt batteries can play an integral part in that. The news is the perfect curtain raiser for further announcements that will be following shortly regarding our cell chemistries and formats.”

With this investment Scorpio demonstrates its determination to play a leading role in the decarbonisation of the maritime sector. 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.”

Filippo Lauro, Vice-President, Scorpio Group: “Scorpio is delighted to have the opportunity to invest in the exciting next phase of growth for Britishvolt. The battery pioneer’s leadership position and access to the UK’s cutting edge scientific community ensure that we will be able to work together to further accelerate green-propulsion and potentially power storage solutions for maritime.”

David Morant, Managing Director Scorpio UK: “We are delighted to have the opportunity to invest with Britishvolt CEO/Founder, Orral Nadjari, and his world-class team. The UK is a seafaring nation and also a world leader in battery and maritime innovation. This partnership will further solidify that leadership. The Scorpio Group looks forward to building on its decades of maritime innovation together with Britishvolt.”

Earlier this year, Britishvolt signed memorandums of understanding with both Lotus Cars and Aston Martin. The partnership with Lotus Cars will see Britishvolt and the Norfolk-based carmaker develop an electric sports car powered by Britishvolt cells and with advanced electric propulsion technologies developed by Lotus Cars.

Britishvolt’s collaboration with Aston Martin, the ultra-luxury carmaker, further supports its plans to launch its first battery electric vehicle in 2025.

Orral Nadjari, Founder and CEO, Britishvolt: “Britishvolt will be a leader in the most important race facing humanity and our planet – the race to carbon net zero. Or in this case “wave to zero.” We will be a positive force not just for our customers in helping them to achieve their decarbonisation goals, but also to those in the communities where we and our suppliers operate, ensuring that they too have a brighter future. The time has come to transition from fossil fuels to clean, renewable, low carbon electricity. The world deserves a clean air future for all. This is our mission at Britishvolt.”

Source: The Manufacturer