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St Athan – it was claimed thousands of jobs could come here, but now the company has run out of money altogether

Shock news that a supposed battery company might run out of money and may now go into administration, puts centre stage how The Eye were alone in revealing that the firm was established by a man convicted of tax fraud, and which ditched a planned site in South Wales, despite the fact that its proposals had been greeted with huge fanfare by politicians and reporters in the mainstream media.

The battery start-up Britishvolt (BV) could have no cash and enter administration, after the UK Government rejected a £30 million advance in funding – it had wanted to build a factory in Blyth in Northumberland, which would then supply electric vehicles.

The UK Government refused to pour in more taxpayers’ money

The UK Government had committed a total of £100 million worth of taxpayers’ money to BV for the project, and it is understood the firm wanted to draw down nearly a third of the funding early, but officials refused.

It has left the £3.8 billion project, which has already been delayed several times, in doubt.

Yet even before this latest information, it had been revealed how BV had struggled to find investors to help fund the construction of its so-called gigafactory in Blyth which was expected to create 3,000 jobs.

However The Eye had already raised serious questions about BV.

The firm’s original Chairman and co-founder, Lars Carlstrom, had been convicted of tax fraud in Sweden, and afterwards Chief Strategy Officer of BV, Isobel Sheldon, said the company was severing all ties with him.

Lars Carlstrom – co-founder of Britishvolt and tax fraudster

Mr Carlstrom was also handed a four-year trading ban in the late 1990s. He was later, too, accused of acting negligently by Sweden’s tax authority over a separate unpaid bill for one of his companies in 2011. In leaving BV, Mr Carlstrom said: “I don’t wish to become a distraction”.

With this sort of background, the recent news about BV running out of money came as no surprise to critics of the scheme online, and as the website North East Bylines (NEB) had put it about Mr Carlstrom earlier: “He was the same individual whose track record had been queried by The Eye when reviewing the proposed location in Wales in July last year, and who seems still to be a major shareholder”.

Before the disturbing information emerged about their plant at Blyth, BV had first chosen a site near St Athan, but there were worrying details about that one too.

Neil Moore – ‘surprise’

Neil Moore, leader of Vale of Glamorgan council, was hugely disappointed at their failure to come, and said: “They were given a better deal elsewhere. I was surprised when they pulled out”.

BV had apparently acquired the Blyth site over the Welsh alternative because of better connections to renewable power sources such as windfarms in the North Sea, as well as an interconnector to Norway’s hydroelectric power – with timing difficulties in Wales also a factor.

But as the report in NEB showed, our research featured in publications in the North East of England after the firm had declared that it would not, after all, build the St Athan plant in the Vale of Glamorgan and move to Blyth instead.

Was the battery factory ever likely to happen?!

The website said: “In July 2020 this (the plans for the battery factory) seemed a welcome bonus for Wales and the prospects of a large new green manufacturing capability with thousands of jobs could only be good news. Except, however, when doubts were quietly raised by The Eye, an investigative news and journalism website ‘looking into misdemeanours by organisations and individuals in Wales and the UK’”.

Orral Nadjari, Ian Levy MP, Lars Cartrom – ‘an incredibly exciting announcement’ for Blyth Valley, but they ran out of money

The questions about prominent figures behind BV have long been persistent, while only our journalists have raised them (apart from, now, NEB).

We had been the first in disclosing that a key director had a failed business behind him, possessed links to a former football club owner who was jailed for fraud, and another one until recently lived in a small flat in a Cardiff terraced house.

Our research could find no record of any director having a background in battery manufacturing. The South Wales venture, though, was met with wild acclaim in the mainstream media and by senior politicians.

BBC Cymru Wales (BBC CW) proclaimed:  “The firm behind a proposed battery factory which could create 4,000 jobs has listed a site in Wales as its ‘preferred option’”.

The website WalesOnline (WO) published: “Plans for a giant factory and thousands of jobs for the Vale of Glamorgan have been revealed. Battery manufacturer Britishvolt announced … that two sites are in the running for their factory, with Bro Tathan business park (near St Athan) leading the way”. It stated later:  “Plans for a factory producing electric car batteries that would bring thousands of jobs for the Vale of Glamorgan have moved a step closer.”.

This was The Times:  Ambitious plans have been revealed for Britain’s first gigafactory capable of producing enough fuel cells and battery packs to power 100,000 zero carbon electric cars.

“The project in south Wales, which is designed to put the UK in the race to be a global hub for the electrified vehicle industry, comes from Britishvolt, a start-up company founded by a Swedish automotive entrepreneur best known as a former associate of Vladimir Antonov, the jailed Russian businessman. Britishvolt has unveiled plans to build a gigafactory capable of producing 10 gigawatt hours (GWh) of lithium ion batteries a year from early next year at Bro Tathan, on the Cardiff airport commercial complex where Aston Martin Lagonda has opened its new carmaking factory.”

Simon Hart – ‘Fantastic’

The Secretary of State for Wales at the time, Simon Hart, said it was “fantastic that we can talk about Wales as being a leading contender” for the UK’s first gigafactory.

The scheme for South Wales, though, was soon stopped by BV, yet crucial facts about the men behind it could have been easily discovered.

Investigations by our journalists at Companies House and elsewhere, disclosed that a prominent director of BV was Couroush (or Courosh) Alai who until recently lived in a modest apartment at Lily Street in Cardiff, which appeared to be a terraced house converted into flats.

Mr Carlstrom, had been involved in a coach company at Coventry that was in debt to creditors for around £1 million. He had also been director of a watch manufacturer called Thrupp and Maberly which has now been dissolved. In 2011 it had first come to light that Mr Carlstrom was the “representative in Sweden“ of Vladimir Antonov who, as The Times stated, had been jailed for fraud. Mr Carlstrom was involved, too, in a sale and leaseback deal of property and plant belonging to the Swedish car maker Saab.

Vladimir Antonov once owned Portsmouth FC

At an extradition hearing, the former ‘representative’ of Mr Carlstrom, Russian-born Mr Antonov, who once owned Portsmouth FC, said that the charges against him were part of a politically-motivated plot. Mr Antonov, whose father was shot and injured in Russia in 2009 over a suspected business dispute, claimed that he was at risk of attack in prison if he was sent abroad to stand trial.

Meanwhile before the announcement that the new plant would be built in Northumberland (although it appears that it now may not be) as opposed to South Wales, BV’s ‘Chief Executive’ Orral Nadjari, declared:  “The first UK gigaplant will… be in an alternative location (to South Wales) which we will be announcing soon”. Yet Mr Nadjari claimed he had looked at more than 100 sites for the BV factory, before alighting on the former RAF site in Bro Tathan near St Athan.

Vladimir Antonov was jailed for fraud

In the way the news of the ‘alternative location’ (Blyth) has been welcomed, there would seem to be an uncanny echo of what happened in South Wales.

The Blyth Valley MPIan Levy, said at the time:  “This is an incredibly exciting announcement that will have a massive impact in the constituency and the surrounding area for decades to come”.

The massive impact may not have been in the way Mr Levy imagined after we showed that the firm was established by a man convicted of tax fraud, and which scrapped a planned site in South Wales, despite the fact that its proposals had been hugely welcomed by politicians and reporters in the mainstream media.



The memories of our Editor Phil Parry’s astonishing decades-long award-winning career in journalism when the interesting backgrounds of individuals were uncovered, as he was gripped by the rare neurological condition Hereditary Spastic Paraplegia (HSP), have been released in a major book ‘A GOOD STORY’. Order the book now!

Regrettably publication of another book, however, was refused, because it was to have included names.