BCMY Ltd, which is an industry leader in the recycling of printer cartridges, has gone from strength-to-strength since July 2016 when they received the loan, growing turnover from £1.4m - £3.2m whilst employing an additional 14 members of staff.
With support from a £1.45 million Growing Places Fund loan, BCMY was able to move to a larger premises to meet demand for their innovative services in a changing marketplace. The new facility has given the company a better environmental solution for their waste, with zero landfill, zero incineration with 100% recycling and reuse. The loan also helped launch the Zero Waste Recycling service, aimed at businesses who want to lower their impact on the environment, increase their corporate social responsibility, and improve their duty of care over their printer consumable waste.
The company collects used cartridges from businesses, and after a range of tests and treatments, sells what it can to remanufacturers, keeping them out of landfill. Further business investment in Research & Development made possible by the recent growth, has yielded a unique computer vision technology which identifies the type and model of a cartridge so that they can be handled automatically, improving processes and reducing human interaction. This benefits both current and future productivity. As well as providing long term economic and employment growth, the process reduces the amount of cartridges going to landfill and incineration, over 267 tons in 2019.
Jonathan Sharrock, Chief Executive at Coast to Capital said:
“We are delighted to have contributed towards BMCY’s success and look forward to seeing the company progress. As part of the strategic economic priority to ‘Invest in Sustainable Growth’, our ambition is to develop a model of sustainable growth for the area and we are supporting innovative companies that champion this goal.”
Simon Gilchrist, Managing Director at BCMY Ltd said:
“BCMY Ltd was unable to grow having reached operational capacity back in 2016. Not enough capital within the business, and no forthcoming support from the banking sector left our growth ambitions unachievable. With help from Coast to Capital we have been able to bring a 33,000sqft derelict commercial property, in Littlehampton, back to life and allow us to grow. The Growing Places Fund has truly achieved what it set out to in this case, since the loan we have experienced over 100% growth in Employment and Turnover whilst remaining profitable in under two years… Thank you for the help, we will continue helping the local environment and economy in return.”
For more information on the investments portfolio and Local Industrial Strategy visit coast2capital.org.uk