A Dorset-based used car parts business has secured £5.5m funding from Lloyds Bank as it expands into one of the UK’s first upside-down production facilities United for vehicle recycling.
Founded in 1926, Charles Trent operates at two sites employing 220 people, with the Poole factory providing opportunities for a further 35 people.
The 100,000 square foot site eliminates older internal combustion engine (ICE) vehicles via two production lines at accelerated speeds, allowing Charles Trent to recycle 96% of auto parts.
It will recycle up to 50,000 ICE vehicles each year using a 400 KW per hour solar energy field and battery storage system.
The projected efficiency of the facility means that Charles Trent plans to add five more sites to the market over the next five years, where it will recycle 300,000 vehicles a year.
Managing Director Marc Trent said: “After four generations of family ownership and nearly a century of business, we have broken down industry barriers like no other.
“Our groundbreaking site will increase our operational efficiency and most importantly show our commitment to reducing the UK’s carbon output. The state-of-the-art nature of our new site will also support our continued investment in clean energy solutions.”
He added: “The complexity of opening a facility of this magnitude required a high level of financial literacy and efficiency. Lloyds Bank have been second to none in this process and we are delighted to develop our relationship with their team.
Mike Morgan, relationship manager at Lloyds Bank, said: “We are seeing the lasting effects of the pandemic and the ongoing war in Ukraine impacting our automotive supply chains, with vehicle parts barely available.
“The new Charles Trent site will combat these market issues while championing the sustainability of the sector. Charles Trent is an industry operations pioneer with the ambition to take vehicle recycling to the next level.
“It’s exciting to be part of real change in the car recycling industry and Lloyds Bank is proud to support companies like Charles Trent who set the bar high for companies looking to reduce carbon emissions and the costs.”