2,000 solar panels installed at Bri-Stor following a six-figure loan
A Stafford manufacturing firm has installed 2,000 solar panels at its 33-acre site in Hixon, using a £350k loan provided through Lloyds Bank’s Clean Growth Financing Initiative.
The initiative provides discounted funding to help businesses transition to a lower carbon, more sustainable future.
The new panels will cover more than 3,500 sq ft, helping the business to reduce its carbon footprint by 149kg each year, the equivalent of travelling more than 1,300 miles in a car.
Bri-Stor Group is comprised of four different arms – Bri-Stor Systems, Alpha Manufacturing, Atlas Coating and Bri-Stor Holdings. The energy produced from the panels will be used to meet the increasing demand across its services which include designing and manufacturing commercial and construction vehicles, as well as equipment for the medical and food services industries.
The solar panels form part of the business’ ambition for green growth as it is set to open a new site in the area later this year and plans to grow its team of around 400 employees.
Andrew Humphries, director at Bri-Stor Group, said: “We’re committed to being a responsible business and sustainability is hugely important to us. Installing solar panels is an important step on our journey to becoming more environmentally-friendly. It will have long-term benefits for us when it comes to the cost of our energy bills too.
“The Lloyds Bank team pointed us in the direction of their Clean Growth Financing Initiative, which was a fantastic incentive for us.@
According to Lloyds Bank’s 20-year Business Barometer survey more than one-third (34%) of manufacturing businesses across the UK hope to reach net zero emissions within the next 20 years.
Lloyds Bank has expanded the funding available under the Clean Growth Financing Initiative from £3 billion to £5 billion to support businesses as they transition to a low carbon economy.
Nash Lal, relationship director at Lloyds Bank, said: “It’s really encouraging to see Bri-Stor Group investing in greener energy at their site. It will make a big difference in terms of reducing carbon emissions, and demonstrates how important it is for businesses of all sizes to play their part in the country’s green recovery.”