Hardwood Sales Ltd

Read time: 2 mins        Added date: 07/03/2024

A Liverpool-based hardwood importer is future-proofing its energy costs with £300k of Hire Purchase funding from Lloyds Bank.

Image of Tree Trunks

Becoming more energy independent

Hardwood Sales Limited is a specialist hardwood importer, supplying timber for some iconic projects including Churchill’s War Office, the Royal Academy of Music and The Shard. It has used the loan from Lloyds Bank to invest in 1,000 longi PV solar panels, allowing the business to start producing 65% of its own electricity, becoming more energy independent and significantly reducing costs.

The global company, which is headquartered in Liverpool, is based on a nine-acre site with a newly built 100,000 sq ft warehouse plus a manufacturing plant. Five-day work weeks mean that surplus electricity is often generated at weekends, and the business sells this energy back to the grid – helping grow profits further, while contributing to the diversification of the UK’s energy mix and reducing strain on the grid when demand is high. 

The solar panels have helped Hardwood Sales Ltd future-proof its energy costs, meaning the money that would have been tied up in rising energy prices can now be invested in creating new jobs and upskilling the workforce. The savings made in the business so far have also allowed it to commit to the building of an additional manufacturing plant starting September, boosting future growth prospects.

As well as making cost savings, the solar panels also offer Hardwood Sales Ltd sustainability benefits in the form of over 100 tonnes of CO2 emissions saved.

“Rising energy costs have been putting pressure on businesses over the last year, and the security that these solar panels have provided us with has been a real relief. Not only have they allowed us to save money on our energy bills, which can be reinvested into the business to help it grow, they’ve also given us a stake in the UK’s ambitions for Net Zero by 2050.

Our customers come to us from across the globe, and so it’s important that we show them the work that’s being done within the business to invest in our offering and protect profit margins. The support from Lloyds Bank has put us in a great place to do this.”

Tony Collins, Managing Director of Hardwood Sales Ltd

Supporting the journey of Hardwood Sales Ltd

“Hardwood Sales Ltd is an excellent example of a business that is invested in its future growth prospects, and knows the importance that making proactive, tangible changes now has for maintaining that growth.

The business’ latest investment will bring them two-fold benefits, prioritising cost savings while boosting its own green credentials. We’re proud to be by the side of businesses like Hardwood Sales, and we’re looking forward to supporting them throughout their journey.”

Alistair Pike, Relationship Manager at Lloyds Bank

All lending is subject to status.

We adhere to The Standards of Lending Practice which are monitored and enforced by the LSB: www.lendingstandardsboard.org.uk and apply to businesses which have an annual turnover of no more than £25 million.

Clean Growth Financing Initiative

From small improvements in environmental impact, right through to large-scale renewable energy infrastructure our Clean Growth Financing Initiative can help.

Clean Growth Financing

Business Hire Purchase

Our most popular Asset Finance option helps you spread the cost of buying assets.

More about Hire Purchase

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.