The main facility will be delayed slightly into mid 2025." Mr Nadjari said that surging energy costs had forced the group to stop major construction works at its new site in Blyth, Northumberland, until February. The company secured £1.8bn to develop the site, touted to be the first British large-scale battery plant, at the beginning of the year. The company won £1.7bn from the real estate investor Tritax alongside the asset manager abrdn, as well as funding worth around £100m from the Government. However, the latter is not expected to arrive until next year. Britishvolt has also attracted investment from the mining behemoth Glencore, as part of a long-term agreement over cobalt supplies for its batteries. Upheaval at the top of the company and production delays come as Britishvolt cuts its target valuation by £200m to £1.5bn in its latest fundraising round, according to the Financial Times. However, this still represented a £800m increase on its previous valuation.