A Caerphilly-based environmental biotechnology firm has secured a £3.9m finance package from HSBC UK to support future growth plans, including investing in new technologies and greater research facilities.
Established in 2009, Biological Preparations specialises in replacing harmful, non-renewable chemicals with adaptive biotechnology that cleans, disinfects, augments, remediates and protects a range of environments. By switching to HSBC UK, Biological Preparations has doubled its working capital facility, stimulating growth across the business.
The HSBC UK funding will enable Biological Preparations to construct a new 700 sq. ft chemistry lab with state-of-the-art equipment. This investment will pave the way for an increase in the research and development of environmental solutions that greatly reduce carbon emissions, plastic pollution and aquatic toxicity, as well as create healthier, safer conditions for people to work.
The HSBC UK funded expansion will also enable Biological Preparations to support local employment with the creation of ten job roles across finance and operations.
The business is anticipating a 20 per cent increase in turnover over the next 12 months as a result of the funded expansion.
Nicholas Davenport, Chief Financial and Operating Officer at Biological Preparations, commented:
“It’s an extremely exciting time for the business as we invest in more facilities, training and innovation. Our technologies bring significant advantages to our customers while offering a more environmentally responsible and safety conscious approach. This investment will enable us to keep expanding into new and current markets and provide even more solutions and exceptional service.
“HSBC UK, particularly our relationship director Ashley Charlton, has been fantastic in understanding how we wanted to grow as a business and provided exceptional service.”
Warren Lewis, Head of Corporate Banking, Wales at HSBC UK, said:
“Biological Preparations is a great example of a business that carries sustainability at its core and values exceptional quality in its products. We’re delighted to be able to support its expansion and look forward to seeing it flourish and bring jobs to the area in the coming years.”
The Planet-Mark certified company currently employs 95 people across the UK, with 82% based in their research and production facilities in South Wales.