Howzat! Cricket legend Ian Botham goes into bat for Britishvolt
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How so! Botham joins Britishvolt: Cricket legend backs last-minute rescue attempt by Aussies
Cricket legend Ian Botham backs a last-minute bailout from an Australian firm to take over collapsed British battery manufacturer Britishvolt.
Botham, 67, is “proactively” helping Recharge Industries through his role as a trade envoy between the UK and Australia.
‘The UK is home to the most innovative and exciting companies in the world. It’s fantastic to have an Australian company that wants to invest in the trade and investment opportunities between the UK and Australia,” he said.
Solid support: Cricket legend Ian Botham (pictured) is ‘proactively’ helping Recharge Industries through his role as a trade envoy between the UK and Australia
David Collard, Recharge’s founder, plans to visit Britishvolt’s Northumberland site this week and meet officials before making a bid.
He said a recent free trade deal between Britain and Australia would bring additional benefits to merging operations with Recharge’s plan to build another battery factory in Geelong, near Melbourne.
“We are a pin that brings everything together,” Collard, 38, told the Financial Times, saying he had the backing of two international banks, including New York-based Jefferies.
He said a collaboration could forge closer ties between the two countries.
Britishvolt approached him last summer looking for funding, but at the time Recharge was focused on Geelong.
The company collapsed this month after failing to raise enough cash to stay afloat.
Despite once being valued at £700 million, Britishvolt is expected to attract bids of less than £10 million.
The Australian faces a battle to get his hands on Britishvolt as about a dozen other bidders want the site.