Six-figure funding package helps textiles company cut carbon emissions
A Runcorn-based company has used a six-figure funding package from HSBC UK to acquire 1,882 solar panels in a bid to reduce carbon emissions.
Sigmatex is a global developer and manufacturer of carbon fibre textiles.
With support from HSBC UK, the company has installed the solar panels to cover its 110,000 sq ft site. It is estimated that the Photo Voltaic solar panels will save up to 7,375 tonnes of carbon emissions from the operation of the site over 25 years.
Sigmatex anticipates that the solar panels will reduce energy costs across the manufacturing site and generate savings of up to 25%.
In addition to funding the installation of solar panels, a further HSBC UK funding package has been utilised by Sigmatex to subsidise an electric vehicle salary sacrifice company car programme for employees.
Company CEO, Paul McMullan, said: “The solar panel installation at our Runcorn site and the establishment of our EV company car policy is an important landmark for the business. This addition will allow us to strengthen our exports and meet growing demand sustainably. We thank HSBC UK for supporting the green growth of our business.’’
Darren Done, equipment finance relationship director at HSBC UK, said: “The panels will ensure that Sigmatex can continue to service an international client base with industry-leading innovation and create new jobs for the local area.’’
The carbon fibre Sigmatex produces is used in motorsport, automotive, aerospace and wind energy sectors.