Latest News | 31 August 2022

Bank’s six-figure support helps firm go green

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HSBC UK is helping a Derbyshire pipe-fitting firm go green thanks to a six-figure funding package.

The bank has given its backing to Flowflex Components, which makes brass fittings for pipes used in plumbing and heating supplies.

HSBC’s funding will be used to support the installation of almost 1,000 solar panels at the firm’s premises in Buxton.

When installed, the photovoltaic solar panels will deliver a peak capacity of 376 kilowatts for business operations.

Flowflex hopes it will help the business offset 64 tonnes in carbon emissions over the next year, with the solar panels providing around 15% of the business’s electricity usage.

Richard Beaumont, corporate relationship manager at HSBC UK, said: “We are delighted to be funding Flowflex Component’s installation of solar panels with funding from our Green SME Fund.

“This investment will generate immediate cost savings and we are very proud to support Flowflex Components in achieving its sustainability targets.

“This funding has been secured from the £15 billion HSBC UK SME Fund, a ring-fenced fund for small and medium sized businesses to support local economies and increase employment opportunities across the UK.”

Richard Wilcock, financial director at Flowflex Components, said: “As a large local employer with customers in the UK, Europe and the Middle East we have always had a genuine commitment to sustainability.

“The installation of solar panels is a big step forward for us, and thanks to HSBC UK funding, we will soon be able to substitute a sizeable amount of our current energy usage with green energy.”

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