Britishvolt, the UK electric vehicle battery start-up in which Scorpio Group invested last year as part of a proposed maritime initiative, has collapsed into administration after an attempt to rescue the group failed.

Last May Scorpio said it was making a strategic investment in Britishvolt as part of a proposed partnership to develop the company’s technology for shipping.

The companies did not disclose the size of the investment, but media reports then suggested it was in the “single-digit millions” of pounds.