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28 April 2015

Greener Surfacing on the road to growth following investment

“As well as having a positive impact on the environment, recycled asphalt also costs considerably less than a new road surface."

Greener Surfacing

Greener Surfacing which harvests old road surfaces and uses an advanced recycling process to produce new quality asphalt is looking to expand following investment from The North West Fund for Micro Loans.

Based in the Kingfisher Business Centre in Rawtenstall, Lancashire, the business has already recycled and sold over £200,000 of road planings. 

Greener Surfacing has used the first tranche of the loan to demonstrate the product and attract large scale inward investment to further support its growth.  The company is currently at the advanced stage of negotiation with a Private Equity Investor. This further investment will be used to roll out a North West implementation strategy over the next few years, which is due to begin in Merseyside soon. 

Greener Surfacing owner Nick Antrobus also has plans in place to develop additional production sites across the UK and to create a range of new factory and office based jobs as the business expands. 

Business Finance Solutions (BFS) which jointly manages The North West Fund for Micro Loans with Merseyside Special Investment Fund provided the loan of £49,500 to Greener Surfacing.

The company, which spent two and a half years researching and developing the patented recycling method, sells the asphalt to local authorities and contractors for use in roads, pavements and car parks.

Greener Surfacing's recycling method not only generates cost savings for its clients but also CO2e savings. As part of its future growth, the company is planning to research ways for its clients to turn these CO2e savings into additional cash savings.

Currently, Greener Surfacing is the only company in the UK exclusively trading in recycled asphalt commercially. The Company is also at product-analysis stage for a large developer in Merseyside which could see a plant operating there continuously for two to three years.

Greener Surfacing owner Nick Antrobus said: "As well as having a positive impact on the environment, recycled asphalt also costs considerably less than a new road surface. We have spent almost three years and nearly half a million pounds developing our manufacturing process and have already established a solid client base and a very scalable business.

"In 2014, we successfully recycled and sold thousands of tonnes of base course asphalt to our clients, and we've had nothing but positive feedback.

"The funding from The North West Fund for Micro Loans will now enable us to spread our recycling operations across the region, while keeping our business headquarters in Rawtenstall. This enables us to establish a much stronger position within the industry and to capitalise on the potential we see for our business to expand and diversify, creating jobs and economic growth for the North West."

The company's success has also recently been recognised by the National Recycling Awards, which will be held in London this July. Greener Surfacing has been nominated as a finalist under the category of Construction Recycler of the Year. Commenting on the nomination, Nick said: "Being nominated as a finalist in the National Recycling Awards 2015 is immense recognition for us. It feels like a turning point and a springboard for the business all in one, and we hope it will serve as the starting gun for further growth."

Paul Breen, Director of BFS which jointly manages The North West Fund for Micro Loans, said:  "We know there is a real appetite for this level of investment of between £25,000 and £50,000, especially for those companies who may not have been able to secure funding from traditional lenders.

"Greener Surfacing is a great example of the type of business we're looking to support. The company has an exciting growth strategy and our funding is already having a positive impact. We look forward to working closely with the company as it continues to expand and deliver innovative solutions for its customers across the region."

 

Greener Surfacing Awards Finalist 

 

For more information about how you may be able to access Micro Loan funding for your business please visit http://www.thenorthwestfund.co.uk/funds/micro-loans

 




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