West Midlands Businesses to Benefit from £24 Million Green Initiatives
By Anushka Malhotra
1 minute 31 seconds
Investment
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Quick Read: West Midlands businesses are set to receive a major boost with a new £24 million initiative aimed at enhancing energy efficiency. Mayor Andy Street and Minister Lord Callanan have unveiled the Government-backed Business Energy Advice Service (BEAS) pilot scheme, designed to assist businesses in the region to reduce their gas and electricity consumption. The large advanced manufacturing sector in the West Midlands makes it particularly energy-exposed, and the initiative offers free energy audits along with match funding of up to £100,000 for recommended energy-saving measures. Over 500 local businesses, including Alucast, have already joined the initiative, focusing on reducing energy consumption and supporting the region's transition to a net-zero future.
In a significant move towards fostering sustainability and supporting the transition to a greener economy, West Midlands Mayor Andy Street and Lord Callanan, the Minister for Energy Efficiency and Green Finance, have announced a new £24 million Government-funded initiative. The Business Energy Advice Service (BEAS) pilot scheme aims to assist thousands of businesses across the region in reducing their gas and electricity consumption.
The West Midlands, known for its thriving advanced manufacturing sector, has a higher concentration of energy-exposed businesses than any other part of the UK. To address this, the West Midlands Combined Authority is collaborating with local small and medium-sized enterprises (SMEs) to identify and fund innovative approaches that promote energy efficiency and contribute to the region's goal of achieving net-zero emissions.
As part of the BEAS pilot scheme, businesses can access a complimentary energy audit and apply for up to £100,000 in match funding to implement recommended measures. These measures may include investments in new machinery and equipment, enhancements to manufacturing processes, or the adoption of energy-efficient solutions such as LED lighting and insulation.
The official launch of the initiative took place at Alucast, an automotive component manufacturer based in Wednesbury. Alucast, one of the 500 local businesses already enrolled in the program, employs 126 people at its foundry. With 30 furnaces in operation, the company consumes 2.5 million kWh of electricity and 7.5 million kWh of gas annually, incurring a cost of £1 million.
Alucast Chairman, Tony Sartorius, emphasized the significance of the initiative, stating,
"The casting industry supports many other sectors in the economy. This is why it is described as a foundation industry and is so important in most modern economies. Our goal is to reduce energy consumption through micro-management by installing sub-metering, investing in more efficient furnaces, and educating our workforce on our energy savings and net-zero goals."
The BEAS pilot scheme is poised to make a substantial impact on the region's businesses by not only helping them reduce operational costs but also contributing to the broader environmental objectives. Interested businesses are encouraged to take advantage of the free energy audit and explore the funding opportunities available to support their journey towards sustainability.
Read more here.
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