A Midlands energy solutions company is set for expansion after agreeing an £8.2 million funding deal with HSBC UK.
Project Better Energy, a group of businesses that specialise in renewable energy, EV charging and energy savings, will use the investment to develop a new 35,000 sq ft office at its headquarters in Burton on Trent, building on its existing 13,000 sq ft site.
The new premises will enable the group to create 50 new jobs after experiencing an increasing demand for its services, as the UK works towards its net-zero targets.
READ MORE: HSBC UK launches new £1.5bn fund to support West Midlands SMEs
Project Better Energy supplies green solutions which help achieve energy efficiency, enabling businesses to decarbonise and reduce running costs.
The organisation has recently partnered with house builders to generate energy-efficient properties across the UK following legislation that all buildings in England must produce 30 per cent fewer C02 emissions to meet the Homes and Buildings Standard by 2025.
Simon Peat, chief executive at Project Better Energy, said: "We're in a unique position to help businesses and housebuilders, who are under immense pressure to improve energy efficiency in properties to meet UK Government legislation and targets to reach net-zero.
"Clean energy targets aren't unique to the UK, and we're keen to grow our presence in Europe to help businesses and housebuilders globally improve carbon footprints.
"Working with a bank known for its international footprint and expertise in targeting new markets will be hugely beneficial in enabling us to make a difference worldwide."
Project Better Energy has switched its banking to HSBC UK to secure access to commercial facilities that will help streamline the company's stock infrastructure.
The company has also used £4 million in sales finance and trade capital from the bank to fund product capacity and quickly increase sales, taking the business from a turnover of £31 million to £58 million in 12 months.
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Debbie Harper, head of corporate banking East Midlands at HSBC UK, said: "Project Better Energy is determined to help businesses reach the UK's net-zero targets through its suite of green energy services and support.
"We're delighted to work with such an ambitious organisation that is already making an important difference within the UK. We're looking forward to continuing to support the business with our international expertise as it targets new markets overseas."
