Clydesdale Bank backs pioneering bio-diesel business

03/11/2011

Clydesdale Bank has helped Anglian Oils, an innovative business converting chip fat into bio-diesel, to continue growing its green credentials.

Anglian Oils purchases waste cooking oil from restaurants and takeaway outlets all over the East of England and then transports it to its factory in Bexwell, near Downham Market, for treatment. It then works with Greenergy, the largest bio-diesel producers in the UK, to supply the bio-diesel market, an ever-growing source of renewable energy, which can then be used to power cars and homes.

The family-run business, which has been trading for 38 years, turned to Clydesdale Bank to help enable them to continue purchasing more waste oil, by providing additional funding.

In the UK alone, 10,000 tonnes of used and waste oil is produced every week and until recently around 90% was used in animal feed. EU legislation now prevents this, meaning businesses are under increased scrutiny in terms of how they dispose of it.

Linda Taylor, Director at Anglian Oils, said: “We now collect and process approximately 6,000 tons per year, for over 5,000 companies. After it’s heated, cleaned and filtered, the end product is used in a variety of ways and can even be purchased from some petrol stations. There is clearly a great incentive for businesses to sell to us rather than pour it down the drain, which ultimately could lead to criminal charges.”

“Crucially, the support from Clydesdale Bank has allowed us to continue to grow. We can now sell more oil on and in turn collect more oil to convert, thereby helping to feed the Bio-fuel market.”

Andrew Pike, Managing Partner at Clydesdale Bank’s Financial Solutions Centres in East Anglia, said: “As a bank we are excited to be involved with such an innovative and green-orientated business. Using bio-diesel has great advantages for your car and the environment. And crucially, as an organic fuel, it does not add any carbon into the atmosphere.”

To help strong businesses realise their potential Clydesdale Bank launched its Investing for Growth package in May 2010, which was designed to help successful businesses grow and develop by easing their cashflow pressures. The initiative offers both new and existing business customers a dedicated planning service and a more flexible approach to lending.