The deal was brokered through HSBC for waste management and recycling firm Ecoshred UK. Ecoshred UK has been operational for more than 15 years and initially started in the confidential waste and shredding sector, later moving into IT and electronics recycling. This diversification involved the disposal of various types of batteries, opening their avenue into lithium battery recycling, an emerging market.

Ecoshred UK’s Lithium Battery Recyclers (LBR) project was birthed in 2025 following the businesses’ successful Innovate UK grant award, in which it was the winner in round five of the Faraday Battery Challenge, part of the UKRI Challenge Fund, which invests in research and innovation to develop more efficient, cost-effective and durable batteries.

The grant allowed the business to commercialise and commission a brand new lithium ion battery recycling plant on rented premises on Teal Business Park in Widnes. The firm believes it is one of the very few specialist lithium ion battery recyclers in the UK, with most other companies shipping their batteries abroad to be recycled.

Bathgate was able to work with directors Ben Dawbarn and Anthony Hulmes to understand the needs of the business and broker the six-figure commercial 25-year mortgage solution over a five-year term, through Charley Hudson, from HSBC.

Anthony Hulmes, Director at Ecoshred UK, said:

“Being able to afford to purchase and moving away from the rent trap is always difficult, however, the legal process and building reporting adds an extra layer of complexity unless expert guidance and assistance is available.

“Having used Bathgate to finance our residential properties in the past, we felt confident working with Gary after he was recommended to us, knowing that he had the right knowledge of the commercial property sector to help us get the right deal.

“The purchase of the complex that houses the battery plant has ensured a secure future for the project and enabled us to fully commit to this new and exciting market without external factors influencing our progress. We also anticipate that the plant will create five to ten new jobs within the next couple of years, as well as at least five postgraduate roles with the University of Leicester.”

Ecoshred UK is currently working with the University of Leicester to prove a new technology that will revolutionise the refining process of lithium-ion batteries here in the UK. If it is successful, it will be the first company in the UK to demonstrate this and close the loop for UK supply of critical minerals, keeping their value within the UK.

Speaking of the deal, Gary Beggs, BDM at Bathgate, said:

“This was an exciting and challenging deal to broker. Due to large income from grant funding in previous years for the LBR project and the fact that it lies in a very new sector, we had to provide detailed forecasts and business plans to demonstrate sustainability beyond grant income.

“This required significant collaboration between client, funder and commercial solicitor DTM, who we introduced to the client to support the legal aspects of the deal. The business is now fast heading to become one of the most successful waste recycling businesses in the North West and leaders in lithium ion battery recycling. We look forward to continuing to support Ecoshred UK on its journey.”

For more information about property finance visit bathgatebf.co.uk or contact Gary Beggs at Bathgate Business Finance on gary@bathgatebf.co.uk or 07496423803