Cumbrian renewable energy expands green energy solutions

A Cumbrian renewable energy business that provides ‘green’ heating solutions has secured a six-figure funding package from HSBC UK, partly through the Coronavirus Business Interruption Loan Scheme (CBILS).

Ulverston-based Heacol installs low energy heating systems and acts as a consultant throughout the development of low energy homes. 

The business, which is owned by husband and wife team Brendon and Jacky Uys, have used a CBILS loan and a bank loan to help with cash flow after being left unable to trade due to the Covid-19 outbreak.

Brendon Uys, Managing Director at Heacol, explained: “A project for us can take up to two years to complete and get paid for. When our projects had to stop overnight as the pandemic hit, we needed funding to see us through the interim period so that we could continue to pay our supply chain. HSBC UK’s support has not just kept our business afloat but is also helping the businesses we deal with locally, which is really important in today’s climate.”

Priyesh Vaghela, Relationship Manager at HSBC UK, added: “We recognise that for SMEs, maintaining cash flow is vital and we’re delighted to help Brendon and Jacky protect their business during this unprecedented period.”

Heacol operates UK-wide and installs air source and ground source heat pumps to build its low energy heating systems for both commercial and domestic clients. The ground source pumps require Heacol to carry out geothermal drilling of boreholes up to 100 meters deep to install the pumps.

The heating systems run on electricity rather than gas, making them cheaper to operate and reducing the amount of pollution being emitted locally in town centres.

HSBC UK is working closely with the Government and UK Finance to identify emerging issues and make sure customers and businesses have the advice and support they need.