Yorkshire chemical developer invests £3.5m in new sustainability plant

A Yorkshire chemical development company has announced that it is aiming to double in size as it invests £3.5m in a new plant.

Libra Speciality Chemicals, which is part of GRI Group, has made the investment after developing new low-salt betaine chemicals that will help make products such as shampoo more sustainable.

This has been supported by a £2m loan through the Lloyds Bank Clean Growth Finance Initiative.

Graham Royle, chairman and CEO of GRI Group, commented: “This is a transformational investment that will help create a new generation of environmentally-friendly, renewable plant-based cleaning products that are sulphate-free, energy efficient and create zero waste.

“We are committed to ‘Green Chemistry’, seeking ever-better environmental and sustainable solutions for everyday products.

“I’m very optimistic about the future. We’re innovating and winning new business in new markets around the world.”

Lee Bloodworth, relationship director at Lloyds Bank, said: “The innovation and commitment to sustainability shown by Libra Speciality Chemicals is truly impressive and can support the development of a new generation of eco-friendly cleaning products.

“Growing consumer demand for sustainable products and the developing ‘green economy’ presents lots of opportunities.

“The Lloyds Bank Clean Growth Finance Initiative helps businesses like Libra Speciality Chemicals to seize these opportunities for growth and diversification.

“We were happy to support this development and we will continue to help businesses as they move to win new growth opportunities by transitioning to low-carbon, sustainable business models.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →