Global renewable energy company Drax Group is to establish a new independent business unit that will focus on becoming the global leader in delivering large-scale and high-integrity carbon removals.
The new business will oversee the development and construction of Drax’s new-build BECCS plants in the US and internationally and work with a coalition of strategic partners to focus on an ambitious goal of removing at least 6Mt of CO2from the atmosphere annually Senior energy infrastructure expert Laurie Fitzmaurice has been appointed as President for the US-headquartered entity, leaving the UK operation still managed by a team based here. The business will be operationally separate within the Drax Group and have its HQ in Houston in the United States. It will be led by Laurie Fitzmaurice, a senior energy infrastructure expert, who has nearly 30 years of experience in business development around the world. In the UK, Drax’s plans for installing BECCS onto its Power Station in Yorkshire and its transformation into the world’s largest carbon removals facility have recently been granted planning approval by the UK Government. The Government has also recently recognised the important role which biomass can play in delivering the UK’s plans for Net Zero as well as supporting energy security. The delivery of this project will continue to be handled by a UK-based team within Drax Group. Drax Group CEO Will Gardiner said: “The creation of this business brings to life years of hard work by many outstanding people across our Group and marks another step in Drax’s journey to enable a zero-carbon, lower-cost energy future. Our recent success is grounded in providing secure, renewable energy and our future is focused on playing a critical role in tackling climate change through the generation of secure, renewable power and the large-scale removal of carbon dioxide. “I am excited to welcome Laurie as President of our new US-headquartered carbon removals business and look forward to working with her. We have a limited window of opportunity to capitalise on our first mover advantage and I am confident that the time is right for this approach. “The new entity will bring focus and will scale the company’s ability to deliver carbon removals to organisations looking to reduce their carbon footprints. Delivering the ambitious targets will see the new entity become a leader in the growing carbon trading market.”Aldi adopts ‘Buy British’ web site tab in NFU campaign to support farmers
The move follows an open letter written by Conservative MP Dr Luke Evans to the chief executives of eight major supermarkets asking for a filter which would direct shoppers to homegrown food to help boost the economy and cut the UK’s carbon footprint.
The letter was was co-signed by 121 cross-party MPs, and echoed a long-standing NFU ask dating back to 2016.
Aldi Chief Executive Giles Hurley has written to Dr Evans MP to confirm the implementation of “a standalone ‘Best of British’ category on our website to showcase our incredible British products”.
They are the second retailer to take up the call to back Britain’s farmers after Morrisons announced a new ‘British’ section to its online food store last year.
Julie Ashfield, MD of Buying at Aldi UK, said: “Our Best of British webpage aims to give our customers the chance to navigate British products more easily whilst supporting the thousands of local suppliers that we work with.
“We are proud to champion so many British suppliers and they are at the heart of our success, allowing us to offer our customers great British quality at the best possible prices.”
NFU President Minette Batters said it was fantastic to see Aldi championing British farmers and thanked Dr Evans for his work on the campaign. Minette said: “Dr Luke Evans has been instrumental in driving this campaign forward, and thanks to his tireless efforts alongside the NFU I hope even more retailers will follow suit.”
Wates gets busy with new council housing in Leeds
Wates Construction is busy creating 88 new council houses as part of Leeds City Council’s Housing Growth Programme, and expects rot be finished by the end of next year.
The properties are going up on brownfield sites in Seacroft and the Ambertons area of Gipton.
David Wingfield, Wates’ regional director for Yorkshire & North East – Construction, said: “We’ve been working with Leeds City Council since 2020 to help deliver its Council Housing Growth Programme ambitions, and have completed more than 200 new homes for residents so far. It’s a privilege to work in partnership with them to build even more.
“This latest scheme has once again been carefully designed to suit the community’s requirements, prioritising energy efficiency, accessibility and affordability.
“Our approach to construction centres on supporting the entirety of Leeds in the long term – keeping spend local, creating new jobs and opportunities and investing into vital community initiatives.”
In Seacroft, 25 one-bedroom apartments and eight two and three-bedroom houses are taking shape on land at the corner of Brooklands Avenue and Seacroft Crescent.
In Gipton, 55 properties – including two, three and four-bedroom houses and one-bedroom bungalows – are being built on Amberton Terrace, Amberton Crescent, Amberton Street and Montagu Avenue.
Work on the scheme is now in full swing following some preparatory activity late last year, with completion due before the end of 2025.
Progeny snaps up Chartered financial advice firm
Leeds-based multi-disciplinary professional services firm, Progeny, has acquired Chartered financial advice firm, Chartered Wealth Management.
This will take Progeny’s total assets under management to £9bn.
With offices in Manchester and London, Chartered Wealth Management offer tailored financial planning and asset management services to high-net-worth clients.
They are a team of 21 members of staff, with nine Chartered financial planners and wealth managers, with a collective 170 years’ experience in providing financial help and advice.
Mark Stanbury, founding director of Chartered Wealth Management, said: “This is an exciting day for our team and our clients, as we join Progeny – a business rapidly growing in scale and profile.
“We look forward to being part of this unique business as well as the mission to transform and improve financial advice for the better, for our clients and the industry at large.”
Progeny CEO, Neil Moles, said: “It’s a pleasure to welcome such a prestigious and high-performing business into Progeny, one which is forward-thinking and committed to excellence in equal measure.
“This is the culmination of a five-year search for the right firm, one that will allow us to expand into a new geography but which also crucially meets the strict criteria we set for our acquisition targets around average client size and age, as well as the age and ambition of the firm’s team.
“With Chartered Wealth Management onboard, we look forward to building our presence and extending our proposition in the north west of England. There are exciting times ahead.”
A team from global law firm Squire Patton Boggs acted as legal adviser to Progeny during the deal and law firm TLT acted for shareholders of Chartered Wealth Management.
York students experience life in construction with city firms
Construction firms including Caddick Construction, John Sisk and Sons, and Simpson of York have given city Year 11 students a taste of apprentice life in their industry.
York teenagers have also been working with construction workers employed by community interest company Volunteer It Yourself, to breathe new life into grassroots music venues.
In November last year, a team made up of local tradespeople and students installed a new ramp at the Fulford Arms, making the venue more accessible for gig-goers with mobility issues, as well as building a sound booth to provide a safer experience for audiences and music tech teams.
This month has seen a second cohort of students team up with VIY to renovate the Vaults, on Nunnery Lane, gaining City and Guilds qualifications in carpentry, painting and decorating.
These projects have been part-funded by City of York Council through the UK Shared Prosperity Fund.
Pete Kilbane, the council’s Deputy Leader and Executive Member for Economy and Transport, including skills, said: “We’re delighted that partners from across the construction industry have offered these opportunities to the next generation, and I’d like to extend my thanks to all involved for taking the time to give our young people the chance to experience the world of construction first-hand.
“There really is no substitute for on-site experience and face-to-face mentorship; these schemes are helping the construction workers of tomorrow learn skills that go far beyond the classroom, inspiring them to pursue rewarding careers that will contribute to building our local economy for the future.
“With skills like these being ever more in-demand in the workforce, I’m confident that schemes like these will stand our young people in good stead as they embark on exciting and innovative career paths.”
Rail Minister promises £24m investment in Bradford’s Forster Square station
Rail Minister Huw Merriman has confirmed a £24 million investment towards a new platform at Bradford’s Forster Square Station to reduce delays and futureproof the station.
The new platform will ease congestion and improve access into the city for passengers, commuters and tourists.
Once complete – and subject to future funding decisions – this could result in an extra five daily LNER services, more than tripling the current provision.
Mr Merriman said: “Bradford is benefitting from serious investment in rail infrastructure with £24 million towards a new platform for Forster Square Station helping to improve rail journeys, increase rail services and better connect passengers.
“This investment follows £2 billion for Bradford to better connect the city, including with a new station, and to facilitate faster rail journeys to Manchester via Huddersfield as part of our Network North plan, with further funding recently announced to help with the planning work for that station – demonstrating this government’s plan to invest in rail infrastructure in the region.”
This announcement comes as Bradford prepares to become the UK’s City of Culture in 2025, with the Minister attending a meeting with local leaders and businesses today to discuss plans to deliver a new government-funded station in the city. The government’s £36 billion Network North plan to improve local transport connections included £2 billion to provide a new station at Bradford and a new connection to improve journey times from the city to Manchester via Huddersfield. Matt Rice, Route Director for Network Rail’s North and East route, said: “This funding will enable us to deliver extra platform capacity at Bradford Forster Square and allow for improved rail connections for passengers in the future.“We look forward to working with the Department for Transport, Bradford Council and other stakeholders to deliver these upgrades for people travelling to and from the city.”
South Yorkshire research gets African nations on the move
Supported by funding worth €3m, research and development done in South Yorkshire is helping to roll out solar-charged battery rentals in the Democratic Republic of the Congo.
Mobile Power Ltd is pay-per-use battery technology company with a research facility on the Newhall Business Park in Sheffield, and has secured the funds from The Beyond the Grid Fund for Africa, a Scandinavian multi-donor environmental and climate-focussed fund.
The business is already operating successfully in Nigeria, DRC, Sierra Leone, Liberia, Chad, and Uganda. More than 14 million battery rentals have been conducted to date, and six million rentals happen every year through the growing network of MOPO hubs and agents. Given the lack of infrastructure in the DRC, the Company anticipates that in the next 10 years its business model will benefit eight million low-income individuals with limited access to power.
MOPO CEO Chris Longbottom said: “Having successfully applied BGFA’s initial investment to grow our renewable energy focussed battery rental business in Liberia, we are delighted to gain further support to develop operations in the DRC. We have a unique business model whereby solar powered hubs charge our proprietary MOPO batteries, which are then rented to customers to sustainably power their lives. We have already conducted 14 million MOPO battery rentals in our current countries of operation across Sub-Saharan Africa and look forward to building our services with BGFA and transforming power access to hundreds of thousands of people.
“Whilst the DRC represents a vast opportunity, our aggressive expansion strategy doesn’t stop there but includes both product development and scaling up roll out across Africa. With the right funding in place, we can leverage our leading position in Africa to accelerate universal energy access. To this end, we are talking to multiple partners and look forward to concluding further financing to aggregate our successful model.”
Through its solar powered MOPO hubs and network of local agents, the Company rents its proprietary MOPO batteries to customers who have limited access to power, providing clean energy to households and small businesses, as well as electric vehicles. The pay-per-use battery sharing service requires no deposit, no debt, and access to power on the customer’s own terms. A MOPO battery is rented to an individual for a defined price and once used, is then returned to the MOPO hub.
The Company currently has two MOPO battery models, both developed in Sheffield. The MOPO50 provides basic household energy for lighting, phone charging and Direct Current (‘DC’) appliances; whilst the larger MOPOMax has two use cases, one as a battery swap for e-motorbike taxis and the other replaces small petrol generators (0-4kVA).
Leeds gears up for next week’s Apprenticeship Recruitment Fair
The Leeds Apprenticeship Recruitment Fair returns to the city’s First Direct Arena next month, showcasing apprenticeship opportunities across the city.
The free-to-attend event runs from 1-7pm on Monday 5th February, will feature more than 100 exhibitors and employers offering apprenticeship information, advice, and live vacancies.
Visitors will have the opportunity to discover more about the different types of apprenticeships, what they involve and how they work, including higher and degree apprenticeships.
Exhibitors include major Leeds employers and training providers from a wide range of sectors, such as accounting, business and administration, catering and hospitality, construction, creative design, care services, digital, education, engineering, finance, hair and beauty, health, law, protective services and many more.
Several exhibitors will also be giving talks on topics such as, how to apply for an apprenticeship, a parent’s guide to apprenticeships, and the power of virtual work experience.
Councillor Jonathon Pryor, Deputy Leader of Leeds City Council, said: “Over the years, this fair has aided the journey of thousands of people into highly skilled and rewarding careers.
“Leeds is the fastest growing city in England, and as a city, we continue to attract more quality employers each year. This is reflected by the wide range of different business sectors and the number of employers attending this year’s fair. Apprenticeships offer something for everyone, from hands-on learning to degree-level qualifications, and are a fantastic route into a wide range of careers.
“I would recommend anyone considering an apprenticeship to attend and find out more about opportunities in Leeds.”
Yorkshire business confidence rises in January
Business confidence in Yorkshire and the Humber rose 11 points during January to 44%, according to the latest Business Barometer from Lloyds Bank Commercial Banking.
Companies in Yorkshire and the Humber reported higher confidence in their own business prospects month-on-month, up 18 points at 54%. When taken alongside their optimism in the economy, up four points to 34%, this gives a headline confidence reading of 44% (vs. 33% in December).
Yorkshire and the Humber businesses identified their top target areas for growth in the next six months as entering new markets (39%), investing in their team (37%) and introducing new technology (33%).
A net balance of 29% of businesses in the region also expect to increase staff levels over the next year, down five points on last month.
The Business Barometer, which surveys 1,200 businesses monthly, provides early signals about UK economic trends both regionally and nationwide.
National picture
Overall, UK business confidence rose nine points in January to 44% – its highest level since February 2022 and its strongest start to a year since 2016. Firms’ outlook on the overall UK economy rose ten points from 27% to 37%, while businesses’ optimism in their own trading prospects also climbed three points month-on-month to 51%.
Companies’ hiring intentions increased marginally, with 33% of firms intending to increase staff levels over the next 12 months, up four points on the month before.
London and the North East were the joint most confident parts of the UK in January – each posting a headline confidence of 62% – followed by the West Midlands (56%) and Yorkshire & the Humber (44%).
The East of England (38% in January vs. 45% December) and Northern Ireland (29% vs. 36%) were the only two regions to reporting declining levels of confidence. The majority of the data was collected before the December ONS inflation data was announced on January 17th.
Sector insights
Three of the four sectors tracked in the Barometer reported rises in confidence. The most significant increase was in services which accelerated 15 points to 45%, up from December’s 16 point drop. Manufacturing confidence also increased to 49%, while construction rose eight points to a 10-month high of 45%.
There was a more mixed picture in retail however, dipping three points to 41% with anecdotal evidence of weaker footfall and sales in December as shoppers hit the streets earlier than usual in November. Nevertheless, some companies still reported stronger sales over the festive period.
Steve Harris, regional director for Yorkshire and the Humber at Lloyds Bank Commercial Banking, said: “The prospect of a more stable economic environment in 2024 is likely to be a big part of why Yorkshire businesses are starting the year on such a confident footing. While challenges undoubtedly remain, it’s promising to see firms looking to enter new markets to maximise growth in the year ahead.
“We’ll continue to be by the side of local firms as we approach this new year with a positive outlook. Whether that’s managing working capital or investing in the latest technology, our team of experts are here to help firms realise their full growth potential.”
Hann-Ju Ho, senior economist, Lloyds Bank Commercial Banking, said: “Businesses are feeling more confident following the cautious end to 2023, with this being the strongest start to a year since January 2016. The reduction in inflation, albeit with the recent uptick, and the belief that interest rates may have peaked is likely driving the rise in confidence among firms.
“With ongoing geopolitical issues and a general election on the horizon, businesses will have factored these into their risk radars and will be working to prepare for any potential impacts on their trading prospects.
“Also, half of all companies say they’re planning to increase headcount in the coming year. Despite that and the changes to minimum wage that will come into force in April, expectations for staff pay fell back following last month’s increase.”
MBO completes at industrial doors specialist
A management buyout (MBO) has been completed at an industrial door company supported by an investment from Finance Yorkshire.
Interdoor, based in Hull, supplies and maintains specialist industrial doors throughout the whole of the UK to a range of sectors including retail, food processing, aviation, automotive and film and television.
Established in 2017, when Mark Roberts incorporated the company and acquired the industrial door business from a member of his family’s group of companies, which itself had traded for more than 40 years, the company has grown substantially over the last six years.
The MBO was led by the company’s operations director, Gary Toalster, with the support of Managing Director Mark Roberts, who prior to the sale owned 100% of the company. He will remain as a shareholder and director of the new business. Between them, Gary and Mark have more than 30 years’ experience in the industrial door sector.
Gary, who was originally employed by Mark’s father 15 years ago as an apprentice engineer, said: “The buyout enables us to support our growth plans for Interdoor and together with our unrivalled customer service and technical knowledge will help us in our ambition to become one of the largest national industrial door maintenance providers in the UK.”
Mark said: “Finance Yorkshire was the first port of call to fund the transaction. We have worked with its fund managers previously who have proved to be trusted partners in working with us to help our business grow.”
Alex McWhirter, Chief Executive of Finance Yorkshire, said: “Interdoor is an impressive company with a strong track record in the supply and maintenance of innovative industrial doors to a range of sectors. It has continued to grow even in the most challenging of trading conditions such as the COVID-19 pandemic. We are pleased to support the management team in the next chapter of the company’s growth strategy.”
The deal was supported by a £1.3 million investment from Finance Yorkshire’s growth fund.
