Development Bank of Wales Invests £2.18M in Electra Nest for EV Charging Network in Wales
The Development Bank of Wales has invested £2.18 million in Electra Nest, a company focused on acquiring and installing EV charging sites in Wales. This funding, sourced from the Wales Flexible Investment Fund, will facilitate the development of three EV charging locations in Pembroke Dock, Pyle Garden Centre, and Pentre Awel near Llanelli, with Pentre Awel already operational.
Electra Nest aims to provide ultra-fast charging at lower costs than traditional service stations, utilizing MicroGrid battery-based technology to minimize grid dependency. In the UK, EV sales surged by 28.9% from January to October 2025, accounting for 22.4% of new car sales, while petrol and diesel sales fell by 8.5% and 15.1%, respectively. The Wales Flexible Investment Fund, backed by the Welsh Government, supports businesses with financing options up to £10 million.
