Development Bank of Wales’ Loan to EcoMove Group

Blake Morgan has advised the Development Bank of Wales on the deal.

Development Bank of Wales (DBW) granted a loan to the expanding EcoMove Group.

DBW is supporting EcoMove with a £250,000 loan so that the electric transport business can fund further expansion of their business by launching Recover, a collection, storage and future recycling facility for lithium-ion batteries in the UK.

Leading law firm Blake Morgan continue their longstanding relationship with DBW having worked together for almost 20 years, advising on deals that benefit the Welsh economy.

The opening of the storage facility in Newport will enable Recover to recycle consumers’ batteries and provide a commercial service for third-parties.

Legal Director Paul Duggan (Picture) and Solicitor Rhian Davies, both in Blake Morgan’s Banking & Finance team, worked on the deal with Stephen Galvin of DBW.

Involved fees earner: Paul Duggan – Blake Morgan LLP; Rhian Davies – Eversheds Sutherland;

Law Firms: Blake Morgan LLP; Eversheds Sutherland;

Clients: Development Bank of Wales;

Giulia Di Palma

Author: Giulia Di Palma