Britishvolt secures investment from Glencore

Mining and trading group is cornerstone investor in UK battery maker’s latest funding round

Electric vehicle (EV) battery developer and manufacturer Britishvolt has secured a £40mn ($54mn) investment from mining and commodities trading company Glencore as part of a new funding round aimed at raising about £200mn. Swtizerland-based Glencore is the cornerstone investor in the funding round, which will be offered to both existing and new institutional and strategic investors, UK-based Britishvolt says. Glencore, which has invested in previous Britishvolt funding rounds, has a supply agreement in place with the company to supply it with battery metal cobalt. Glencore and Britishvolt are also working on joint plans for 10,000t/yr battery recycling plant. In January, Britishvolt secured