Britishvolt Appoints William Reynolds As Chief Financial Officer

LONDON, Jan. 25, 2021 /PRNewswire/ -- Britishvolt today announced the appointment of William Reynolds as Chief Financial Officer effective 1 January, 2021. Britishvolt's first UK battery Gigaplant with an investment of £2.6 billion will create over 3000 jobs. Mr. Reynolds has over 20 years of experience assisting companies with large-scale world-wide capital fund raising, strategic planning, financial and operations management and business development in Europe, the Americas, Asia and the Middle East.

As CFO and a senior executive in the energy and construction sectors, including AMOCO, TAQA, Prisma Energy, Integrated Electrical Services, Halite Energy Group Ltd, and Pacific Coast Energy, Mr. Reynolds developed, constructed and financed energy, mineral, real estate and infrastructure projects.  

"With his industry expertise and experience, CFO Reynolds will accelerate Britishvolt's collaboration with the UK Government as a valued partner in developing an innovative and uniquely British battery supply chain. Based on his executive management roles within the energy and construction industries, Mr. Reynold's strong track record of raising capital and his expertise in the energy industry make him the ideal CFO to lead Britishvolt to its next chapter of growth and success. As CFO of a company that grew from 25 to 3,500 employees, while raising over $10 billion in less than 12 months, he delivered extraordinary results during a period of tumultuous global capital market disruption. We are excited to welcome CFO Reynolds, a world-class leader, to Britishvolt." said CEO Orral Nadjari. "We remain on track to begin construction in July 2021 with battery deliveries to the UK and EU automotive sector by the end of 2023."

"I am privileged and honoured to join Britishvolt as its CFO", said Mr. Reynolds. "With my renewable energy company experience, I have great appreciation for companies that pursue Environmental and Societal standards that demonstrate a deep sense of responsibility to reinvigorate communities by providing local residents with meaningful work opportunities. I believe Britishvolt has a tremendous ability to leverage the UK Government's insightful investment in a state-of-the-art Battery Pilot Plant to meet the unique demands of the global climate crisis. As the UK continues to pursue a net zero emissions future by 2050, Britishvolt is poised to play a pivotal role at the forefront of this mission. I look forward to a bright future for Britishvolt and guiding it to become a leader in the global battery technology and energy storage business."

SAFE HARBOR

Certain statements in this press release concerning our future growth prospects are forward-looking statements regarding our future business expectation intended to qualify for the 'safe harbor' under the U.S. Private Securities Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, competition including those factors which may affect our cost advantage, equipment procurement, wage increases, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time contracts or time and material construction contracts, customer concentration, restrictions on immigration, industry segment concentration, our ability to manage international operations, reduced demand, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages related to battery service agreements, the success of the companies in which Britishvolt has made strategic partnerships, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies and unauthorised use of our intellectual property and general economic conditions affecting our industry. In addition, please note any forward-looking statements contained herein are based on assumptions we believe to be reasonable as of the date of this press release.

Notes to Editors

About Britishvolt

Britishvolt will be Britain's foremost manufacturer and supplier of advanced battery technologies. It is dedicated to supporting the future of electrified transportation and sustainable energy storage, producing world-leading lithium-ion battery technologies.

Britishvolt's aim is to establish the UK as the leading force in battery technology. It is working with leading partners and suppliers to achieve this because it is of paramount importance to the future of the UK automotive industry and the overall economic and industrial health of the UK.

The company believes that the UK is the right place for its investments because of the strength of its automotive and energy industry, its expertise and history of industrial and academic battery research and development.

Quarter four of 2023 has been targeted as the start of production in Britain's first Gigaplant.

www.britishvolt.com

SOURCE Britishvolt