Blake Morgan advise DBW on investment into growing business

Posted on 3rd May 2022

Blake Morgan has advised the Development Bank of Wales (DBW) on 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 and Solicitor Rhian Davies, both in Blake Morgan’s Banking & Finance team, worked on the deal with Stephen Galvin of DBW.

Paul Duggan commented:

We are proud to support DBW and all the excellent work they do. We were really pleased to be able to assist Steve and DBW on their investment into this growing business and wish the EcoMove Group continued success.

The Blake Morgan Banking & Finance team has the strength and depth to provide a quality service to meet the needs of funders, lenders and borrowers in all types of financing transaction, offering advice on all aspects of lending, security, product development and financial regulation.

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