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Photo by T. Schneider/ShutterstockReCharge Industries, an emerging Australian company yet to construct a major project, reportedly successfully outbid rivals to take over collapsed battery maker Britishvolt. The Guardian cautioned the deal still needed to be finalised which would trigger a process of paying back creditors. The startup planned to build lithium ion batteries free of materials from China or Russia, reducing risks to supply chains. The report noted Britishvolt had GBP100m in conditional financing from the British government but failed to meet various hurdles to receive the funding. Administrators also received bids from existing Britishvolt investors, private equity firm Greybull Capital and HSBC-backed Saudi British Bank, the report added, citing the Financial Times.