US Private Equity Firm Buys Britishvolt Site for Massive Data Center Project

Monday, 15 April 2024, 15:23

The Britishvolt site in Northumberland, previously owned by the failed startup Britishvolt, has been acquired for £110m by Blackstone Group, a US private equity firm. The firm plans to build one of Europe's largest data centers on the 95-hectare site. This move signifies a shift in the purpose of the site from battery production to data center construction, optimizing its links to renewable energy sources.

https://store.livarava.com/9eae24cb-fb3c-11ee-a6be-63e1980711b2.jpg — US Private Equity Firm Buys Britishvolt Site for Massive Data Center Project

Britishvolt 'Gigafactory' Site Acquired for £110m by US Private Equity Firm

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.

Key Points:

Ownership Change: US private equity firm Blackstone Group acquires the Britishvolt site for data center project.
Shifting Focus: Transition from battery plant to data center reflects changing market demands.
Renewable Energy: Investment aligns with utilizing renewable energy sources for the new data center.

This strategic acquisition and shift in purpose showcase the evolving landscape of industrial investments and the increasing importance of sustainable energy practices.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.