A POOLE-based used automotive parts specialist has secured a multi-million-pound package to expand into a first of its kind facility in car recycling.
Charles Trent Ltd was granted a £5.5million funding solution package from Lloyds Bank, as they expand into the UK’s first reverse production line facility for vehicle recycling.
The new 100,000 square foot site off Ringwood Road strips old internal combustion engine (ICE) vehicles down via two production lines at accelerated speeds.
This allows Charles Trent to recycle 96 per cent of car parts and is the first facility of its kind in the UK.
The cutting-edge facility will recycle up to 50,000 ICE vehicles every year with the help of a 400 KW per hour solar power field and battery storage system.
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 it is projected they will recycle 300,000 vehicles per year – equating to 15 to 20 per cent of vehicles scrapped in the UK.
In order to service 100 per cent of the UK’s automotive recycling demand, just 20 of these first reverse production line facilities are needed.
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 unrivalled in this process and we are excited to be growing our relationship with their team.”
Mike Morgan, relationship manager at Lloyds Bank, added: “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.”
Headquartered in Poole, Charles Trent also operates a site in Warwickshire and employs a workforce of 220 people – with the new facility providing opportunities for 35 more people.
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