Funding fuels GAP Group Scottish expansion

A North East recycling and haulage business has expanded into Scotland thanks to a seven-figure funding package from HSBC UK.

Gateshead-based GAP Group North East, known for electronic waste recycling, is using the backing to develop a 50-job fridge recycling plant near Perth. 

Bosses say it will recover valuable materials, including metals and rigid plastics, for re-use in manufacturing.

Set to open next year, the site will run entirely on green energy from on-site wind turbines.

Peter Moody, director at GAP Group North East, which employs 150 staff across multiple recycling and logistics divisions, said: “We have worked with HSBC UK for two years and the team continue to provide support, taking the time to understand our industry and the needs of our business.”

Ben Foster, relationship director at HSBC UK, added: “We are delighted to support GAP Group North East with their continued growth strategy. 

“The expansion into Scotland is a positive step, which will contribute greatly to the circular economy; the new Perth site will support the reduction of recycling exports in Scotland.”

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