Business For Sale
Wednesday 3 January 2024
On Behalf of FRP Trading Advisory Limited.
Project Cell is seeking to power a cleaner global future through the supply of innovative battery products.
Project Cell is a UK technology developer and manufacturer of sodium-ion & lithium-ion battery cells currently commercialising its products for low volume, high value add battery energy storage and automotive markets.
Founded in 2013, its objective is to develop battery cell technology to support the ‘net zero revolution’, transforming energy storage across homes and electrifying vehicles.
From the increased market uptake of electric vehicles and personal devices to growing environmental concerns and increasing regulation and political pressure to shift away from the use of fossil fuels, as illustrated by the UK Government’s plan for a “Green Industrial Revolution”, there has been a rapid rise in global demand for lithium-ion and sodium-ion derivative
Project Cell has implemented a distinctive strategy of not only accessing intellectual property, but also developing products based thereon to address its specialist customers’ requirements, with the intention in due course of utilising its facilities to manufacture cells on a commercial scale. Having invested time and resources to refine its key products, the Company is now looking to begin commercialisation, transforming its UK manufacturing facility from an R&D facility to a volume production facility.
Project Cell is de-risking production through a scale-up approach to reaching full capacity production in a planned UK Giga Factory with a capacity of approximately 2GWh per annum.
The business has entered into a non-binding letter of intent for a new, state of the art 2GWh Giga Factory which could be operational and in production within the next 3 years.
The facility will be capable of production in excess of £200 million revenue. This will allow the Company to respond to the high levels of interest in its differentiated high added value cells.
When the Giga Factory has been built the number of employees will rise to 400, providing critical highly-skilled and highly-paid battery industry jobs in the UK.
Project Cell provides the opportunity for a purchaser to acquire the unique technologies and know how developed to date.