| The battle to keep plans for Blyth's electric behicle battery plant alive has taken a new turn this week.
Britishvolt's ambitious plans for the £3.8bn plant at Cambois could, it says, create more than 3,000 jobs - but the firm has been mired by funding issues for months, culminating in a near collapse last October before existing investors stepped in.
Eleventh-hour funds were only to keep the firm afloat in the short-term and behind the scenes, the management team has been involved in discussions to secure longer term funding. Those talks appear to be bearing fruit, with Britishvolt now on the brink of securing long-term, binding funding to safeguard its future.
But who is part of the consortium of investors stumping up the cash?
Britishvolt is staying tight lipped for now, but reports claim the investors are led by DeaLab Group, a London PE house which is controlled by an Indonesian investor.
The group, in operation for more than 10 years, describes itself as an "alternative asset management firm with the objective of investing and developing strategic projects and assets in emerging markets that include non-renewable and renewable energy, power and utilities, mining and natural resources, shipping and transportation, and heavy industries and general infrastructure, and technology and telecommunications". No doubt we'll learn more if the deal gets over the line. Read about the talks here.
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