MEMBER NEWS: Aberdeen energy firm enhances green offering with £500k HSBC UK support

January 20, 2022
MEMBER NEWS: Aberdeen energy firm enhances green offering with £500k HSBC UK support

Courtesy of Aberdeen & Grampian Chamber of Commerce.

Aberdeen-based energy specialist Biosus Energy has enhanced its sustainable business offering following a £500k funding package from HSBC UK.

The business, which develops low carbon solutions that reduce the cost of companies’ utility bills, has used the six-figure equipment finance to purchase combined heat and energy power generators.

Biosus Energy install the power generators at clients’ sites, under bespoke Energy Supply Agreements (ESA), where they work in parallel with existing power supply contracts and create energy savings and efficiencies.

The new equipment has seen Biosus Energy take on further projects, which have grown the business and resulted in the creation of three new jobs.

In one such project, the team helped Associated Seafoods Ltd – a renowned seafood supplier, based in Buckie – to increase its fuel efficiency by up to 50 per cent after it implemented an innovative process using heat from the power generator plant to cool the factory.

Garth Way, director at Biosus Energy, said: “Helping businesses reduce their carbon footprint and utility bills is more important than ever before. HSBC UK’s Equipment Finance team have been fantastic and their support will enable us to implement further green solutions that are practical and effective for our clients. With their backing, we aim to acquire four to 10 new systems per year.”

Tim Laundon, relationship manager at HSBC UK, said: “HSBC UK has pledged to achieve net zero from our financed portfolio by 2050 and we’re committed to working with all our clients to help them on their journey to net zero. We’re thrilled to support Biosus Energy as it helps to improve Scottish businesses’ carbon footprints and we’re heartened to see the company grow, and go from strength to strength.”

The business, established in 2013, provides over 100 clients across Scotland with bespoke solutions including green strategies, energy supply agreements, carbon road maps, heat pumps, biomass CHP, hydrogen ready fuel cells and solar panels.

Read this story on the Aberdeen & Grampian Chamber of Commerce website here.

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AREG has played an important role in the growth of Scotland’s renewable energy sector, engaging the supply chain and developing the European Offshore Wind Deployment Centre. However, we are only at the very beginning of the transition that AREG was established to both lead and support so there are still opportunities for companies to get into the constantly evolving renewables supply chain. We look forward to continuing our work together as renewables builds on its place as Scotland’s main source of power, and as we seek to deliver real change in the crucial areas of heat and transport.

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Aberdeen & Grampian Chamber of Commerce has worked closely with AREG since its formation. The recent progress in the developments of offshore wind projects by Equinor and Vattenfall are as a result of the work of the group over many years. The north-east is known as the oil and gas capital of Europe. At the Chamber, we believe the region must evolve its position to being recognised as the energy capital. Whilst hydrocarbons will continue to be essential in driving our economy for years to come, the generation of renewable resources will play an increasingly important role in providing cost-effective power, innovative development and economic growth.

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Aberdeen City and Shire is emerging as a key location for renewables by successfully transferring its world-class oil and gas expertise into the sector and AREG has done much to advance this through a broad range of initiatives. It has acted as a catalyst in driving further investment in the local economy by engaging with companies, Government, public bodies and existing projects and we have been pleased to support their efforts. Scottish Enterprise will continue to engage with AREG as we increase Scotland’s use of renewable energy.

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