A £2.18 million investment by the Development Bank of Wales, comprising a mixture of debt and equity, will support the launch of Electra Nest, a company set up to acquire and install EV charging sites in Wales.
The funding for Electra Nest, made from the Wales Flexible Investment Fund, will support the development of three specific EV charging sites: in Pembroke Dock, Pyle Garden Centre and Pentre Awel near Llanelli. The Pentre Awel site is already live and operational.
Electra Nest 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 for customers and sites across the UK. Part of the company’s vision is to develop a corridor of Nest EV charging sites in South Wales, on or around the M4.
The directors of Electra Nest are Dean Jenkins, who has a strong track record of delivering effective B2B renewable energy solutions, and Christian Roberts, who has a background in business development, sales and driving growth in the renewable energy sector.
Its approach is to deliver ultra-fast charging at significantly lower cost than traditional motorway service stations, creating a network of well-located sites that drivers are willing to travel slightly further to access. Nest EV & Sustainable Energy Group deploys a MicroGrid battery-based charging technology, reducing the need for large grid connections while still delivering ultra-fast charging speeds.
Pentre Awel represents a flagship example of a well-designed, accessible ultra-fast charging location delivered in close partnership with local authorities and developers to meet ambitious timescales.
In the UK, sales of EV vehicles rose by 28.9% from January to October 2025. This represents 22.4% of new car sales in the UK during the period. In the same period petrol car sales decreased by 8.5% and diesel sales by 15.1%.
Christian Roberts, Director at Nest EV and co-founder of Electra Nest, said:
“Electra Nest is about doing things differently. We’re building a charging network that’s futuristic, data-led and genuinely affordable without being greedy. Our price points are extremely competitive compared to motorway charging, but the model still delivers sustainable margins.
“I’m originally from Llanelli, and 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 our focus remain firmly here. The Development Bank of Wales has been an excellent partner — pragmatic, forward-thinking and supportive of a model that’s innovative but grounded in real-world delivery.”
Rebecca Evans, Cabinet Secretary for Economy, Energy and Planning, said:
"This investment shows how Welsh Government funding is driving innovation and creating real opportunities for Welsh businesses. Electra Nest combines local expertise with cutting-edge technology to deliver the charging infrastructure Wales needs. Supporting the transition to electric vehicles is essential for our economy and our environment, and partnerships like this show what is possible when the public and private sector work together."
Investment Executive John Babalola and Portfolio Executive Mark Sommers from the Development Bank of Wales structured the deal for Electra Nest. Mark said:
“Electra Nest is a strong example of how public and private capital can work together to deliver modern, future-focused infrastructure for Wales. This joint venture combines local knowledge, technical expertise and a clear commercial strategy, while directly supporting the transition to electric vehicles.
“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. We’re pleased to support the first site going live and look forward to seeing the network expand across Wales.”
Financed by Welsh Government, the £500 million Wales Flexible Investment Fund supports Welsh businesses with terms of up to 15 years. Loans, mezzanine finance, and equity investments are available from £25,000 to £10 million.
