CW Fletcher produces high-quality engine parts for aircraft, business jets, satellites, as well as nuclear projects globally. Beginning as a Sheffield cutlery manufacturer during WWII, it helped develop the Merlin engine to power the Spitfire and Lancaster.
In a move to reduce its energy costs, the business installed solar panels across its 3,349 sq m facility in Wales Bar. The panels have already generated 23% of its energy this year, saving the business £87,000. By the end of 2024, savings are expected to hit £170,000, and £200,000 by 2029.
The sustainable investments were supported by a £688,000 asset finance funding package via Lloyds Bank’s Clean Growth Financing Initiative (CGFI). CGFI provides access to discounted lending for green purposes, arming CW Fletcher with substantial support for the solar panels,
Rebecca Willis, financial director at CW Fletcher, said: “The sectors we operate in are extremely niche and demand the highest quality. That’s why we are constantly looking to update our machines and equipment to deliver the very best results for our growing client base.
“Projecting nearly a quarter of a million pounds in savings over the next five years thanks to clean energy is a fantastic result for us and allows us to further reinvest in our facilities. The funding from Lloyds Bank has been crucial. We had previously looked into solar energy, but the long payback times made it unfeasible. This opportunity has meant we can strengthen our business and ensure we’re here for another 130 years, providing jobs for future generations in and around Wales Bar.”
Lee McAllister, associate director at Lloyds Bank’s Asset Finance Division, said: “Rebecca and the team at CW Fletcher are leading the way for manufacturers who want to go green and boost efficiency.
“This is becoming more important than ever, and we know from our latest UK Sector Tracker data that manufacturing output growth outpaced services last month with its greatest lead since 2021, showing a big jump in demand for goods. To take advantage of this trend, companies need to be ready with efficient supply chains and the right machinery.”
