Driving business improvements

Eggleston Steel wanted to reduce their carbon footprint and halve their electricity bills. They knew they had to invest first and needed backing that looked beyond traditional ‘hard’ assets, at a realistic price.

Illuminating asset finance with Aldermore

Established in 1908, Eggleston Steel stock, process and supply a wide range of mild steels and non-ferrous metals throughout the UK. With virtually round-the-clock working during the week, their electricity costs and carbon footprint were too high. So they decided to invest £156k on LED lighting and solar panels, to deliver the desired cost savings, and improve their carbon footprint.

Equipment finance to deliver business benefits

Richard Hewitt, MD of Eggleston Steel comments: “Environmental credentials are increasingly important to our customers. We are very environmentally aware, have a strong green agenda, and are aiming to get ISO14000, by installing solar panels, selling electricity back to the grid, and switching to movement and ambient-light based LEDs. It’s good for business too – we've already almost halved our electricity bills, as well as having much better lighting!”

Funding non-traditional assets

James Reid from Radar Finance adds; “LED lighting and solar panels are not the ‘hard’ assets that most companies are financing. We needed a company to work with us on a non-traditional asset.”