Dragon Recycling Solutions.
A smart investment from UKSE, means Dragon Recycling Solutions has saved millions of old energy meters from ending up in landfill.
Over the last decade, smart meters have been rolled out all over the UK, cutting energy costs and improving energy efficiency. The only problem: millions of old meters going to landfill. Thankfully, an innovative recycling company from the Welsh Valleys had an idea.
Being one of the most efficient companies when it comes to environmental issues, they won two major contracts to turn 100% of unwanted meters into useful raw materials, like plastic, steel, brass and circuit boards.
The plan would also create more than 70 new jobs, helping to regenerate one of Wales’ most deprived communities. But to fulfil the contracts, they needed additional finance to purchase a nearby factory.
Our investment meant regeneration in the communities that matter to us, but also enabled Dragon Recycling Solutions to fulfil their important environmental contract.
"This funding, for which we are very grateful, means we're now in a position to employ a further 71 people."Managing Director Mick Young
How we did it.
We felt it was important to help, with so many job opportunities for the local community. They had detailed plans for future development, aiming to become a UK leader in the environmental sector.
The opportunity, and their ambition, was too good to miss, so we stepped in with a £100,000 loan, which levered a further £500,000. They had the finance needed to move forward, buy the premises and deliver their contracts.
Not only will this investment turn waste into valuable materials, it will stimulate the local economy and provide the jobs needed to keep young people in the area. For both them and us it was win-win.
71 new jobs created
Expansion into new premises
Fulfilment of important environmental contract