A Blaydon civil engineering business is set to create new jobs and make significant investments after sealing a £2.4m finance deal.
Holystone Civil Engineering Ltd, a specialist in roads, sewers and demolition services, has secured the financial package with Lloyds through the bank’s Clean Growth Finance Initiative (CGFI). It will be using the funds to buy a new wash plant and water treatment system, which is designed to improve energy efficiency and reduce carbon emissions.
The new machinery will help the business, which counts the likes of Persimmon, Story Homes and Bellway among its clients, to boost the amount of construction site material it recycles.
At the moment, only 20% to 30% of its waste is reused, but the new system is capable of reclaiming up to 90% of non-reactive materials such as sand and gravel from site-clearance waste. The recovered materials will become new product lines for the business and be used as aggregates in future projects.
Following the deal Holystone has created a spin-off business focused on sustainable material recovery and reuse in construction, called Holystone Waste & Reclamation Solutions Ltd.
As well as bringing in new revenue for Holystone, the venture will reduce its third-party disposal costs, and 10 new jobs are also being created at the Gateshead business.
Ryan Peddie, finance director at Holystone Civil Engineering Ltd, said: “This phase of our growth has been a real turning point for us.
“What used to be waste is now something we can clean up, reuse and even sell – it’s saving us money, helping the planet, and opening up a whole new revenue stream. The backing from Lloyds has been a huge part of making that happen.”
John Turnbull, relationship manager at Lloyds, said: “Holystone is a brilliant example of a business that’s embraced change, spotting an opportunity to operate more sustainably and making the kind of investment that supports both the environment and their growth. It has taken a practical, hands-on approach to tackling waste and found a way to turn it into something valuable.
“It’s great to see the business expand and create new jobs to support the regional economy, especially in line with plans to continue expanding in the year ahead. We’re proud to have supported them on this journey.”
