Britishvolt deal at risk of collapse over power supply contract- FT
March 31 (Reuters) -Recharge Industries' attempt to buy the Britishvolt site is facing the risk of collapsing due to a dispute between the Australian company and administrator EY over a power supply contract signed by the failed battery start-up, the Financial Times reported on Friday.
Recharge Industries and the British accounting firm hit an impasse over payments related to transferring a grid connection contract with UK's National Grid, the report said, citing people familiar with the matter.
Privately owned Recharge Industries bought Britishvolt's intellectual property for 8.6 million pounds last month, but is yet to pay the 9.7 million pounds for the land despite the deadline passing, the FT report said.
Reporting by Rahat Sandhu in Bengaluru; Editing by Shilpi Majumdar
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