BritishVolt said the Monaco-based Scorpio Group has made a strategic investment in an electric vehicle (EV) battery startup and the two companies will research battery power and storage options for maritime shipping.
BritishVolt said on Wednesday that Monaco-based Scorpio Group has made a strategic investment in an electric vehicle (EV) battery startup and the two companies will research battery power and storage options for maritime shipping.
BritaniVolt’s “access to the UK’s cutting-edge scientific community ensures that we will be able to work together to further accelerate green-propulsion and potential power storage solutions for the marine,” said Filippo Lauro, Scorpio’s vice president, who is the same company. is part of the group. Oil tanker company Scorpio Tankers and renewable energy firm Entee.
Global shipping companies are researching electric and hydrogen-powered ships as zero-emissions options for maritime use, with several trials underway for both technologies.
Emission-free ferries EG has operated in Scandinavian waters for many years, including The Tycho Brahe and Aurora Ferry operated by Forsea of Sweden between Helsingborg in Sweden and Helsingr in Denmark.
In March, BritishVolt launched a Series C funding round with an initial investment of £40 million ($53 million) from mining giant Glencore.
The company has also secured UK government support for a battery plant project in northern England, revealing £1.7 billion ($2.10 billion) in private funding.
BritishVault is also working with British sports car manufacturers Aston Martin and Lotus to develop the battery.
Scorpio and BritishVolt did not disclose the size of the strategic investment, but a source familiar with the matter told Reuters it was in the “single-digit millions” of pounds.
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