Howzat! Botham battling for Britishvolt: Cricketing legend backs Australians’ last-minute bailout bid
Cricketing legend Ian Botham is backing a last-minute bailout bid by an Australian firm to take over British battery maker Britishvolt.
Botham, 67, is “proactively assisting” Recharge Industries in his role as British-Australian trade envoy.
“The UK is home to the most innovative and exciting businesses in the world. It’s fantastic to have an Australian company willing to invest in UK-Australia trade and investment opportunities,” he said.
Strong support: Cricket legend Ian Botham (pictured) is ‘proactively assisting’ Recharge Industries in his role as British-Australian trade envoy
David Collard, the founder of Recharge, plans to visit Britishvolt’s site in Northumberland this week and meet officials before making a bid.
He said a recent free trade agreement between Britain and Australia would provide additional benefits from 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 rapprochement could forge closer ties between the two countries.
Britishvolt approached it last summer 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 already being valued at £700m, Britishvolt are expected to attract offers below £10m.
The Aussie is struggling to get his hands on Britishvolt as a dozen other bidders want the site.