Britishvolt ‘gigafactory’ site sold for £110m to US private equity firm

News Snapshot:

The site in north-east England previously owned by the failed battery startup Britishvolt has been bought for £110m by a US private equity firm, which plans to build one of Europe’s largest data centres. Blackstone Group bought the 95-hectare (235-acre) site near Cambois in Northumberland to take advantage of its links to renewable energy, according to the receivers for one of the Britishvolt companies. The receivers did not disclose the amount paid for the site, but Northumberland county council documents show the local authority will create a £110m “growth and investment endowment fund” as a result of the deal. Britishvolt...