02 June 2023
A Birmingham-based fast-food supplier is one step closer to hitting its own ambitious target of reaching net zero by 2027, thanks to support from Lloyds Bank.
Founded in 1999, TCR Food Services is an independent, family-run supplier of food and drink, packaging, equipment and cleaning products to takeaways across the Midlands. The £20m turnover business employs 45 people and owns four warehousing facilities in the Midlands.
To ensure its deliveries are as carbon efficient as possible it approached Lloyds Bank, securing £120,000 asset finance and a £60,000 funding package via the bank’s Clean Growth Financing Initiative.
This initiative provides discounted lending towards measures that reduce a business’ environmental impact.
The business has now purchased two new MG ZS electric vehicles for its sales colleagues and two new delivery vans that meet Euro 6 emissions standards, complete with electric fridges to transport food products.
TCR Food Services also paid for at home EV charging points for two of its drivers to make the transition to electric as streamlined as possible.
Looking ahead, it has ambitions to open the UK’s first carbon neutral cold store, powered by solar energy, where it can further prioritise its net zero targets.
It has also introduced recyclable packaging that is made from a minimum of 30% recycled material. Around 95 per cent of its products are also sourced in the UK.
Brian Matthews, director at TCR Food Services said: “Sustainability is something that has been really important to me and to the company since it began.
“It is also a significant driver for our growth as a business and thanks to the funding from Lloyds Bank, we can now increase our efforts to lower our emissions while continuing to supply the Midlands’ fish and chip shops with highest quality products.
“I’m grateful that Lloyds Bank have been so supportive with our green ambitions and in making sure our investments make a real difference to our business and our customers.”
Vijay Chouhan, relationship manager at Lloyds Bank, said: “It’s refreshing to see businesses that take sustainability so seriously and recognise both short-term and long-term benefits.
“As a supplier that relies on a daily delivery service, it’s great to see TCR Food Services introduce new vehicles that will comply with Birmingham’s Clean Air Zone and also reduce their environmental impact.
“As the UK heads towards its target of reaching net zero in 2050, we are incredibly proud to support firms like TCR Food Services as they put plans in place to help the country meet its target.”