Charles Trent
Dorset based used automotive parts specialist, Charles Trent has expanded into the UK’s first reverse production line facility for vehicle recycling, after securing a funding solution package with Lloyds Bank.
Read time: 5 mins Added: 06/10/2022
The new 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 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.”
Important legal information
Lloyds Bank is a trading name of Lloyds Bank plc, Bank of Scotland plc, Lloyds Bank Corporate Markets plc and Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH.
Lloyds Bank plc. Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 2065. Bank of Scotland plc. Registered Office: The Mound, Edinburgh EH1 1YZ. Registered in Scotland no. SC327000. Lloyds Bank Corporate Markets plc. Registered office 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 10399850. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278, 169628 and 763256 respectively.
Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH is a wholly-owned subsidiary of Lloyds Bank Corporate Markets plc. Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH has its registered office at Thurn-und-Taxis Platz 6, 60313 Frankfurt, Germany. The company is registered with the Amtsgericht Frankfurt am Main, HRB 111650. Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH is supervised by the Bundesanstalt für Finanzdienstleistungsaufsicht.
Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). Please note that due to FSCS and FOS eligibility criteria not all business customers will be covered.
While all reasonable care has been taken to ensure that the information provided is correct, no liability is accepted by Lloyds Bank for any loss or damage caused to any person relying on any statement or omission. This is for information only and should not be relied upon as offering advice for any set of circumstances. Specific advice should always be sought in each instance.