Somerset firm wastes no time on expansion with £1.1m boost
Somerset-based Towens of Weston has secured a £1.1m finance package to expand its recycling capabilities by converting excess soil into materials used in the construction market.
The family-owned recycling, waste management, haulage and environmental services business has used the HSBC UK funding to invest in a bespoke plant that recycles subsoil (soil which lies directly under surface soil) that would otherwise go to landfill.
The plant separates excess subsoil into its component parts of sand, stone and clay, which can go straight back into the construction market. This investment has enabled Towens of Weston to expand its services for customers and unlock new business opportunities as a result.
The majority (92%) of the waste that is processed through Towens of Weston’s facilities is either recycled, reused or recovered, with only 8% going into landfill.
John Telling, executive chairman at Towens of Weston, said: “At present, subsoil removed from construction sites is mainly sent to disused quarries and ends up in landfill. It struck us that our business could support the construction industry and create an additional revenue stream by recycling this material.
“We’re grateful to HSBC UK for the Trade and Equipment Finance funding package that enabled us to purchase and import the recycling plant. The team has been very flexible and ensured we were presented with the necessary support to move this deal forward.”
James Shepherd, area director at HSBC UK, said: “Towens of Weston is a great example of a family-run business that has expanded over the years, starting out as a small skip-hire company and evolving into a multi-faceted waste management business. The team saw an opportunity to find new, innovative ways to recycle construction and demolition waste and help reduce the need for virgin materials within the sector.”
Based in Weston-Super-Mare with depots across Somerset, Towens of Weston handles over a million tonnes of waste and recycled aggregates a year. Its customers range from the biggest sites such as nuclear power plants to local contractors, builders and homeowners.