Bank finance boost for Bristol firm at the leading edge of UK recycling

September 20, 2019

Bristol waste management company Ecosurety, which operates one of the UK’s leading recycling compliance schemes, is looking to expand after securing a £2m finance facility from HSBC UK.

Ecosurety provides well-known brands with the credible and traceable recycling evidence they need to submit under UK law. 

The scheme has more than 1,000 members across the food, drink and retail sectors, including Danone, The Co-operative Group, Innocent, Morrisons and Virgin Media.

The facility will enable Ecosurety to accelerate much-needed investment into recycling innovation and infrastructure in the UK as well as providing it with the financial flexibility to meet the compliance needs of its growing membership base.

The Aztec West-based firm helps its members manage their legal recycling obligations while also working with them at a strategic level, channelling investment into UK recycling projects that reduce the country’s reliance on waste export markets.

For example, packaging compliance applies to companies that handle more than 50 tonnes of packaging a year and have an annual turnover of more than £2m.

These companies are required to take responsibility for their environmental impact and must pay a proportion of the cost of packaging recovery and recycling through the purchase of certificates or recycling evidence. 

But Ecosurety recognises that only through increased infrastructure, innovation and consumer awareness campaigns can the UK create a more resilient recycling system.

CEO James Piper said: “Ecosurety is committed to accelerating the growth of UK recycling infrastructure and to helping the UK build a more transparent recycling system that reduces its reliance on foreign export markets.

“As companies recognise the long-term benefits that Ecosurety’s business model offers, we’ve seen increased business growth.

“This, coupled with high recycling evidence (PRN) prices, has created the need for a more flexible cashflow set up – something HSBC UK is helping us manage.

“The £2m finance facility will enable Ecosurety to continue to meet the needs of its members, whilst delivering on its broader mission to build UK recycling capacity through collaboration, innovation and targeted investment.”

HSBC head of corporate banking in Bristol, Gloucestershire and Wiltshire James Shepherd added: “HSBC UK is committed to helping Bristol businesses realise their ambitions and Ecosurety is no exception. It is one of the leading businesses in its field, helping companies share recycling evidence and innovate to improve the UK’s recycling efforts.

“This sustainability-driven company is closely aligned with our own ambitions to achieve sustainable growth and we look forward to working with the team as it continues to attract new members.”

The funding from HSBC UK has been drawn from the bank’s SME Fund, which has dedicated £550m to SMEs across Bristol.


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