Dorset based used automotive parts specialist, Charles Trent, has secured a £5.5 million funding solution package from Lloyds Bank, as they expand into the UK’s first reverse production line facility for vehicle recycling.
The new Poole based 100,000 sq ft site strips old internal combustion engine (ICE) vehicles down via two production lines at accelerated speeds, allowing Charles Trent to recycle 96% of car parts and is the first facility of its kind in the UK.
Charles Trent operates across two sites employing a 220-strong workforce with the new facility providing opportunities for 35 more people. Founded in 1926, the fourth-generation business has over 96 years’ experience within the vehicle management and auto recycling industry.
The cutting-edge facility will recycle up to 50,000 ICE vehicles every year with the help of a 400 KW per hour solar power field and battery storage system. Businesses implementing sustainable energy solutions are helping to drive the UK’s net zero effort by reducing their scope one emissions.
The forecasted efficiency of the new facility means Charles Trent is looking to add a further five sites to the market over the next five years where they will recycle 300,000 vehicles per year, 15%-20% of vehicles scrapped in the UK. To close the gap of the UK’s vehicle recycling needs just 20 reverse production sites to service 100% of the demand.
Marc Trent, chief executive officer of Charles Trent, said: “After four generations of family ownership and close to a century of business operations, we’ve broken sectoral barriers like no others. Our revolutionary site will increase our operational efficiency and importantly show our commitment to lowering the UK’s carbon output. The cutting edge nature of our new site will also support our continued investment in clean energy solutions.
“The complexity of opening a facility of this magnitude required a strong level of financial knowledge and efficiency. Lloyds Bank has been unrivaled in this process and we are excited to be growing our relationship with their team.”
Mike Morgan, relationship manager at Lloyds Bank, said: “We’re seeing the lasting effects of the pandemic and the ongoing war in Ukraine impact our automotive supply chains, with vehicle parts scarcely available. Charles Trent’s new site will combat these market issues while championing sectoral sustainability. Charles Trent is pioneering industry operations with ambitions to take vehicle recycling up a gear.
“It’s exciting to be a part of real change in the auto recycling industry and Lloyds Bank is proud to support businesses like Charles Trent who are setting the bar high for firms looking to cutting carbon and costs.”