A new Welsh electric vehicle charging venture has secured £2.18 million in backing from the Development Bank of Wales, as efforts to expand the country’s EV infrastructure gather pace.
The investment will support the launch of Electra Nest, a newly formed company focused on acquiring and developing ultra-fast electric vehicle charging sites across Wales. The funding package, made up of a combination of debt and equity, has been provided through the Wales Flexible Investment Fund.
Electra Nest plans to develop a network of strategically located charging hubs, with initial sites confirmed at Pembroke Dock, Pyle Garden Centre, and Pentre Awel near Llanelli. The Pentre Awel site is already live and operational, marking the company’s first step in what it hopes will become a wider Welsh charging corridor.
The business is a joint venture between the Development Bank of Wales, Nest EV, and Sustainable Energy Group. Nest EV designs, installs and maintains EV charging infrastructure across the UK and has set out an ambition to create a connected route of charging sites across South Wales, particularly along and around the M4.
Unlike traditional motorway service station chargers, Electra Nest’s model is based on offering ultra-fast charging at a lower cost, encouraging drivers to travel slightly off main routes in return for more affordable pricing. The sites use a MicroGrid battery-based charging system, reducing reliance on major grid upgrades while still delivering rapid charging speeds.
The company is led by directors Dean Jenkins, who has extensive experience delivering renewable energy solutions to businesses, and Christian Roberts, whose background includes business development and growth within the renewable energy sector.
Roberts said the company was focused on balancing affordability with commercial sustainability.
“Electra Nest is about doing things differently,” he said. “We’re building a charging network that’s modern, data-led and genuinely affordable without being greedy. Our prices are extremely competitive compared to motorway charging, while still delivering sustainable margins.
“I’m originally from Llanelli, so seeing our first site go live at Pentre Awel is a proud moment. We’re a Welsh business with UK-wide ambition, but our roots and focus remain firmly here. The Development Bank of Wales has been a pragmatic and supportive partner from day one.”
The investment comes amid continued growth in electric vehicle adoption across the UK. Between January and October 2025, EV sales rose by 28.9 per cent, accounting for 22.4 per cent of all new car sales. Over the same period, petrol car sales fell by 8.5 per cent, while diesel sales dropped by 15.1 per cent.
Welsh Government Cabinet Secretary for Economy, Energy and Planning Rebecca Evans said the investment highlighted how public funding could drive both innovation and environmental progress.
“This investment shows how Welsh Government funding is creating real opportunities for Welsh businesses,” she said. “Electra Nest brings together local expertise and cutting-edge technology to deliver the charging infrastructure Wales needs. Supporting the transition to electric vehicles is vital for our economy and our environment.”
The deal was structured by the Development Bank of Wales’ investment team, with Portfolio Executive Mark Sommers describing Electra Nest as a strong example of public and private capital working together.
“The team’s ability to deliver high-quality sites, work closely with local authorities and deploy innovative battery-based technology makes this a compelling model,” he said.
The Wales Flexible Investment Fund, financed by the Welsh Government, is a £500 million fund offering loans and equity investments of between £25,000 and £10 million, with terms of up to 15 years.
