EcoMove Group has opened a lithium-ion battery collection and storage facility on Leeway Industrial Estate, Newport as part of a UK-wide expansion strategy.
Established in 2019 by founding directors Teddy Thompson and John Dorman, Bristol-based EcoMove specialises in providing e-bikes, e-scooters and e-mopeds.
A £250,000 loan from the Development Bank of Wales is being used to fund the expansion of the EcoMove Group with the launch of Recover, a collection, storage and eventual recycling facility for lithium-ion batteries in the UK.
With a store in Bristol, EcoMove is also looking to open a second hub outlet in Cardiff offering sales, servicing, test rides and trade-ins. As dangerous goods, lithium-ion batteries are no longer allowed to be disposed of in landfills, so are often shipped to the EU for recycling. The opening of the storage facility in Newport will enable Recover to recycle consumers’ batteries and provide a commercial service for third-parties.
Recover is working in partnership with RSBruce, a recycling facility in the Midlands. Together, the two businesses will be collecting, storing and recycling lithium-ion batteries from a wide range of electronics including PEV, laptops and mobiles phones.
Co-founder and director Teddy Thompson said:
Wales is an obvious move for us as we expand from Bristol to scale-up and take advantage of the growing demand for affordable PEVs and subsequent need for convenient and safe battery recycling. By opening up our Newport facility and carrying out ADR approved collections, we meet this demand and can ensure that the batteries are stored and recycled correctly.
The help from the Development Bank has made all the difference; their positive, helpful and can-do attitude is much appreciated and their investment now enables us to scale-up and deliver on our expansion plans.
Stephen Galvin of the Development Bank of Wales said:
The team at EcoMove is on a mission to bring two-wheel green electric transport to the mainstream UK market and develop their own battery collection, storage and recycling facility here in Wales. It is an exciting business operating in a growing sector; providing cleaner, quieter and more sustainable transport opportunities.
It’s a great example of how we can attract and support the emerging green industries; creating jobs and helping to reduce carbon footprint with investment in green technology.
The loan came from the £204 million Wales Business Fund which is financed by the European Regional Development Fund and the Welsh Government. Loans, mezzanine finance, and equity investments are available for deals between £50,000 and £2 million with terms ranging from one to seven years for small and medium-sized businesses (those with fewer than 250 employees) based in Wales, or willing to relocate to Wales.
Blake Morgan acted for the Development Bank of Wales and Cook Corporate Solicitors advised EcoMove. More information on Recover can be found on their website. https://eco-recycle.co.uk/