Shawbrook Bank has provided £7m in funding for eco-friendly Sussex-based firm, Rabbit to expand its waste management facilities and further invest in energy generation technology.
Trading since 1988, Rabbit is a family firm and combines 2 waste and recycling specialist businesses, Rabbit Waste Management Limited and Enviropower Limited. Rabbit provide commercial and retail waste services and Enviropower Limited convert waste into electricity, using green energy solutions to divert up to 75,000 tonnes of waste from landfills annually.
In 2008, Rabbit Group invested heavily in renewable energy, opening what is believed to be the UK’s first successful privately-funded, biofuel waste to energy plant in Lancing, West Sussex. The facility is capable of generating up to 5MW of green electricity which is sold onto the national grid.
The funding from Shawbrook will help Rabbit Group to invest in additional green waste technology and grow its renewable operation to take advantage of increased demand from both retail and commercial customers in the Sussex region.
Bill Blyde, chairman at Rabbit Group, says:
“Recognising the regulatory and environmental issues arising in the recycling industry, we made a revolutionary decision back in 2005 and invested in the technology required to introduce a ‘Biomass Energy from Waste’ plant a few years later. With the aim to reduce landfill dependency, we have continued to invest in the business and the technology that allows us to further develop our renewable facilities. The team at Shawbrook took the time to get to understand the complexity of our business and the potential of what we’re trying to achieve. The flexible funding they’ve now provided will undoubtedly help us get there faster.”
Oliver Wilson, regional managing director at Shawbrook Bank, says:
“It is exciting to see businesses like Rabbit Group introducing technologies that convert waste into electricity and subsequently minimise landfill usage. Our team have worked closely with Bill and the Group to ensure we deliver a solution that helps them meet their objectives and expand their green energy provision for the future.”