On August 31, 2021, Power By Britishvolt Limited closed the transaction. The company amended the terms of the transaction. The company raised a total of $70 million (£50.813 million) in the transaction.

The company received its second and final tranche. The transaction included participation from Cathexis Capital LLC, NG Bailey and new investor Carbon Transition ASA for $1.7 million (£1.23403 million). The company issued common shares in the transaction.

The company raised funding at a post money valuation of £720 million.