SFS financing powers Ambic’s energy independence

As energy prices continue to soar, many businesses are grappling with the financial strain on their operations. However, this challenge is also an opportunity to reassess energy consumption and explore more sustainable alternatives. A recent survey of UK energy decision-makers revealed that 61% consider energy security a top driver for energy decarbonisation. Despite this, only a minority have taken steps to reduce consumption or invest in on-site renewable energy generation.

Furniture manufacturer Ambic, based in the North-East of England, exemplifies a proactive approach to energy management. Known for producing high-quality, bespoke contract furniture for a diverse array of industries, Ambic’s manufacturing operations in County Durham are energy intensive. Facing unsustainable costs due to rising energy prices, the company sought a solution to generate its own power and remain competitive.

Initially, Ambic planned to invest modestly in solar panels for its Chester Le Street factory using its own capital. However, after consulting with finance broker Anglo Scottish, the company realised that a more substantial investment could enable complete energy self-sufficiency. To achieve this, Ambic needed a suitable financing partner, and Anglo Scottish identified Siemens Financial Services (SFS) as the ideal match.

Specialist financier, SFS, tailored a solution that addressed Ambic’s commercial requirements, product specifications, and practical application. The financing package spread the investment cost over seven years, structuring it so that savings from the solar panels would cover nearly the entire initial investment. This arrangement allowed Ambic to maintain lower electricity costs while servicing the new asset debt.

Liam Hunt, Managing Director at Ambic, praised the process: “Communication throughout the whole process was fantastic. Charlotte Enright at Anglo Scottish and SFS looked at what we needed and created a bespoke solution for us which met our needs entirely and made the whole process a lot easier.”

With the new solar installation, Ambic anticipates saving £1.94 million over 25 years and aims to operate on 100% renewable energy. “At the end of the day the numbers don’t lie,” Hunt added. “Using finance for this large purchase has allowed us to keep cash in the bank which we can reinvest and use to fund new customer projects.”

Emma Gallagher, Internal Sales Account Manager at Siemens Financial Services UK, highlighted the broader significance: “Even though the benefits are clear, not enough businesses are seizing the opportunity to invest in sustainability and take control of their energy costs. Ambic are among a group of proactive businesses who have set themselves an ambitious goal and found the means to make it happen – with a little financing support, of course!”