Midlands civil engineer goes green and creates jobs with seven-figure HSBC funding

A Midlands civil engineering business is harnessing the sun’s power by installing 374 solar panels across its facility in Nuneaton thanks to funding from HSBC UK.

Ivor King installed the panels, which now cover two-thirds of its headquarters’ roof, using HSBC UK’s Green Fund as part of a seven-figure funding package.

The funding support will also allow Ivor King to invest in multi-disciplinary, environmentally sensitive equipment, allowing the business to work in low-emission zones. This capability will help create an additional 20 to 30 jobs and follows a strong period of growth for the company which has seen turnover increase by nearly 40 per cent in 12 months.

The support from HSBC UK has enabled a 140Kw solar panel installation, the annual carbon saving being the equivalent of planting 70-100 trees per year.

The system is capable of halving the electricity bill throughout the summer months. Ivor King now has plans to install batteries on-site, increasing capacity and allowing energy generated on-site to power other parts of the company.

Dave Smith, finance director at Ivor King, commented: “We are committed to continuously improving the sustainability of our workplace and practices. Our new solar panels are just one step in the journey to becoming even more sustainable as an organisation.

“We are grateful for the ongoing support of HSBC UK as we grow in this area, which is enabling us to take on new work and employees as a result.”

Michal Babel, relationship director at HSBC UK, added: “Ivor King is a well-established civil-engineering business, offering great choice and expertise in pilling solutions to customers across the country.

“Supporting businesses like Ivor King as they adapt and face up to business challenges is what HSBC UK is about, and we are pleased to be able to help the company in its transition to becoming more sustainable.”

HSBC UK has supported Ivor King since 2014, helping to fund working capital and “vital” asset purchases, such as new machinery.

By Matthew Neville – Senior Correspondent, Bdaily

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