Headquartered in Irvine, Lowmac Waste & Recycling has built a new sustainable processing plant to support its commitment to send zero waste to landfill by 2021, in line with government targets.

The family business specialises in waste management and the recycling of trade, food and hazardous waste for clients including the NHS and local authorities.

Lowmac Waste & Recycling used asset finance support from Bank of Scotland to install the processing plant, eliminating the need to transport waste to external plants, lowering its carbon footprint in the process.

Following the installation, the company’s recycling rate is now up from 81 per cent to 90 per cent. The remaining 10 per cent of waste that cannot be recycled onsite is turned into Refuse Derived Fuel used to produce electricity.

The business has annual turnover of £19.4m and employs 70 full and part-time employees.

Kenny Smith, managing director of Lowmac Waste & Recycling, said: “We’re committed to ensuring our business operates as sustainably as possible. Bank of Scotland has been by our side throughout our recent growth, supporting us to make this a reality and we’ve been able to install the new processing plant as part of our strategy for a greener working environment.

“Thanks to this support from the bank, we’ve introduced new green measures that reduce our carbon footprint and our overall impact on the environment.”

The deal was supported by Bank of Scotland’s £2 billion Clean Growth Finance Initiative (CGFI), which provides discounted funding to help businesses transition to a lower-carbon, more sustainable future. Bank of Scotland also recently committed to lend up to £1.6bn to encourage businesses to maximise opportunities for growth.

John Steele, associate director, global transaction banking at Lloyds Bank, said: “Scotland is leading the way towards a greener way of working. Supporting businesses like Lowmac Waste & Recycling means we can help reduce their carbon footprint, boost productivity and encourage growth.

“Asset finance allows firms to spread the cost of higher price purchases, protecting cashflow that can be used to invest in other areas of the business. Lowmac Waste & Recycling was able to introduce new measures to further support its commitment to send zero waste to landfills.

“CGFI forms part of our commitment to help Scotland prosper. We’re committed to helping businesses from all sectors across Scotland work towards a green future.”

The Clean Growth Finance Initiative supports a range of investments from small improvements in environmental impact to large-scale renewables energy infrastructure.