Fuelling green ambitions for the UKs SMEs

Adopting sustainable business practices has become a top priority for many small businesses across the UK. However, soaring costs have continued to force CSR goals further down the agenda.

In 2020, Bibby Asset Finance formed a strategic partnership with Surrey based business, Zero Waste Technologies (ZWT) to help SMEs reach their sustainability ambitions.

Economic and environmental benefits

Working with businesses primarily in the catering and hospitality space, from large stadiums to Michelin star restaurants, ZWT imports and supplies a range of innovative and sustainability focused equipment from across the world. One of these is the ORCA Machine, which allows restaurants to process food waste in house. This not only diverts waste from landfills, delivering a clear environmental benefit, but provides cost savings for businesses as well.

Thanks to funding from BAF, ZWT enabled London’s top luxury caterer Rocket Food to acquire their first ORCA in 2022. However, the business experienced exponential growth over the last year and quickly needed a bigger and better solution to combat food waste, so in 2022 ZWT and BAF leased Rocket Food a larger ORCA. This enabled Rocket Food to create an actionable food waste minimisation strategy to reduce waste by 50% by 2030, in line with the UN Sustainable Development Goal 12.3.

BAF were also able to offer a line of credit to Rocket Food to fund an additional piece of equipment, the Glass Loop. This new glass crushing technology process 60 bottles a minute, which reduces waste collections by up to five times, resulting in a significant carbon reduction.

Flexible funding is key

The partnership with BAF allows ZWT’s customers to purchase equipment using their operating expenditure (OpEx) budget, rather than their capital expenditure (CapEx) budget, which would require a much greater commitment of capital. This enables the business to finance and acquire assets quickly and deliver operational efficiencies from day one.

Additionally, as a flexible funder, BAF’s partnership with ZWT allows maintenance costs to be paid monthly, assisting cashflow and ensuring that the equipment is maintained throughout its usage, therefore maximising the equipment’s lifetime.

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