Prosper Autumn 2023 Yumpu_compressed

BUSINESS VOICE: LLOYDS BANK AND NET ZERO
Prosper asked Richard Jenkins, Area Director for the Black Country,
Shropshire and North Wales at Lloyds Bank, about how the region’s
businesses are transforming to take on the net zero challenge….
Lloyds funding helps give the
green light to net zero ambitions
The Black Country is home to some of
the UK’s most innovative companies.
With the UK’s net zero target
approaching, many are viewing the need
for business change with proactivity,
seeing the challenge not as an obstacle
but as a chance to transform their
operations, increase efficiency, enter new
markets and drive growth.
We want to shine a light on some of our
customers in the region who are doing
just this, and how we have been by their
side to support in their ambitions.
Illuminating the future
Over the past year, rising energy costs
have presented a significant challenge to
businesses – particularly those involved
in sectors such as manufacturing and
industrials. However, some resourceful
firms have looked at ways to significantly
change how they fulfil their business’
energy usage.
Earlier this year, precision engineering
firm Parker Precision invested £70,000
in 162 solar panels. They supply around a
third of the energy needed for its site in
Bilston and have cut £4,000 from the
monthly energy bills. Parker Precision is
using the cost saving to invest back in its
workforce, upskilling its staff and taking
on new apprentices, which it hopes will
help boost turnover by 20% this year.
Likewise, we supported Wolverhampton
-based fencing specialist, and fellow
Chamber Platinum Group member, Zaun
to revamp its approach to energy with a
£200,000 loan to install 500 solar panels
on one of its factories. The panels now
supply the entire factory with energy,
meaning the site is self-sustaining and
saving the firm an average of £10,000 in
energy costs each month.
Both loans came through Lloyds
Bank’s Clean Growth Financing Initiative,
which provides customers with access to
discounted lending for green purposes.
Bespoke solutions
And green financing hasn’t just
supported Black Country businesses
with new energy generation projects this
“Zaun revamped its approach to
energy with a £200,000 loan to install
500 solar panels on one of its factories.
year – it’s also been used in more
wide-reaching sustainable
transformation projects.
Latham’s Steel Doors, one the UK’s
largest manufacturers of steel security
doors, based out of Oldbury, recently
built a new sustainable warehousing
facility to help decarbonise its
operations. Supported by a £1m loan
from Lloyds Bank, as well as being
designed to save as much energy as
possible, the building includes state of
the art energy efficient air conditioning,
LED lighting, electric car charge points
and cycle storage. This has enabled the
building to achieve an EPC A rating – the
highest energy efficiency rating a
property can receive.
Meanwhile, Walsall automotive parts
manufacturer, Birchills Automotive, has
taken a creative approach to business
change, adding another arm to its
operations that helps reduce its waste
materials. The business is repurposing
unused metal from its manufacturing
process which would have otherwise
been thrown away, to create bespoke
sculptures, planters and furniture. We
have supported the firm with the financial
tools they needed to sell the designs
internationally, where they have
commanded six-figure sums. The project
hasn’t just helped Birchills Automotive to
reduce its waste, but also utilised
creative talent within the business to
create a new revenue stream, helping the
manufacturer to grow and develop.
The creativity and innovation shown by
Black Country firms to take on the
net-zero challenge, to transform their
businesses and deliver efficiency and
growth demonstrates the tenacity and
forward-looking approach of the region.
We’re proud to be by the side of local
businesses and support their journeys.
28 PROSPER AUTUMN 2023