Britishvolt
- 🦄Became a unicorn2022
- 📈Peak valuation$1 Billion ’22
- 💔Became a Unitard2023
- 💸Last valuationWiped out
How it happened
Britishvolt promised to build Britain's first large-scale gigafactory, in Blyth, Northumberland, reaching a ~$1B valuation on FTSE 100 backing and a £100M UK government funding pledge. It burned cash with little revenue and no finished factory, and when rescue financing failed it collapsed into administration in January 2023 owing up to £160M, making over 200 staff redundant; Australia's Recharge Industries bought the remains, valued at just ~£30M. Employee reviews trace the drift from inside: well before the end, staff repeatedly described a company without a settled business plan or clear direction from senior leadership, and flagged mounting funding uncertainty and a cash shortage they sensed internally long before the public collapse.
Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗. See our methodology.
Source: Wikipedia / Stevens & Bolton / The Chemical Engineer (~$1B valuation 2022; £100M UK government pledge; administration Jan 17 2023, owed up to £160M; ~£30M consortium offer left shareholders with <£2M; bought out by Recharge Industries)
