Green Wakefield firm secures £50k Finance Yorkshire investment
A Wakefield-based company specialising in reusable packaging alternatives is investing in new products with a £50,000 investment from Finance Yorkshire.
Green Peas Solutions designs and distributes sustainable, environmentally-friendly packaging materials around the world, saving companies money and reducing their carbon footprints.
This investment is intended to aid research and development into more innovative packaging solutions to add to Green Peas global portfolio.
Key clients include major manufacturers such as Samsung, Sony and HP whose electronic products and components such as televisions, laptops and mobile phones all require specialist packaging to enable safe transportation within the after sales service market.
Marketing Director Evelin Kallas said: “We are constantly developing new packaging products to drive cost savings in supply chains and this funding is vital to our research and development so that we can come up with even more innovative solutions for existing and new clients.”
“Our Air Pod™ solutions are becoming better known but we want to expand our marketing activity to increase our business in overseas markets and the Finance Yorkshire funding will help us to do that too.”
Green Peas Solutions’ range of inflatable Air Pods™ contain 2% film and 98% air and can be reused, reducing packaging waste. “They are one of the most environmentally-friendly types of packaging, replacing traditional materials such as foam, cardboard and tension support packaging,” said Evelin who works with the company’s co-founder Stephen Piper.
“The pods fit snugly around products to absorb impact from drops, bumps and shocks while significantly reducing the total supply chain’s carbon footprint and running costs”
Sharon Neal from Certax Accounting in Wakefield supported Green Peas Solutions in securing the Business Loan from Finance Yorkshire.
Finance Yorkshire Investment Manager Ian Howson said: “Green Peas Solutions has developed a great concept in its range of Air Pod™ packaging and already has an impressive portfolio of major global consumer electronics manufacturers. We recognise the company’s potential for significant growth given its ambition to develop more innovative packaging solutions with the ability to reduce waste and cut carbon emissions.”
Finance Yorkshire provides seedcorn, loan and equity linked investments, ranging from £15,000 to £2m to help a range of small and medium sized businesses to meet their funding requirements for growth and development.
The project is supported financially by the European Union. It has attracted £30million investment from the European Regional Development Fund (ERDF) as part of Europe’s support for the region’s economic development through the Yorkshire and Humber ERDF Programme, £15million from UK Government and £45million match funding from the European Investment Bank.
Green Peas Solutions was launched in 2009 and employs four people at its Wakefield base which is home to its design team. It works with agents across the world to distribute its products.
This was posted in Bdaily's Members' News section by Clare Burnett .
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