Click here to read the article on the Business Insider website.

A North West-based logistics company has acquired a new fleet of alternative fuelled vehicles with seven-figure support from HSBC UK.

GBA Logistics, which has utilised a HSBC UK funding package, has snapped up a total of ten Scania Compressed Natural Gas (CNG) vehicles to add to its existing diesel-powered fleet.

It marks the first major alternative fuels investment for GBA as it works towards a 2040 Net Zero target.

The vehicles will operate on specific routes in the North and East of the UK, with the potential to expand to other regions.

Due to the HSBC UK supported move to CNG power solutions, GBA has achieved the 2022 target of a 9 per cent reduction in CO2 emissions from truck operations. The company is keen to emphasise the importance of the investment towards its commitment to reduce carbon emissions by 50 per cent  by 2025.

Deena Hamilton, sustainability manager at Preston-based GBA, said: “This is an exciting time at GBA as we make further additions to our existing two hundred vehicle-strong fleet.

“As part of our sustainability goals, we are committed to reducing our emissions and taking credible steps to invest in greener technologies. We look forward to further opportunities for decarbonisation as we drive towards a sustainable future.”

Jon Higginson, relationship director at HSBC UK, added: “The introduction of an alternative fuelled fleet to GBA’s services comes at an important time for the business as it moves towards more sustainable operations. It is fantastic to support their green initiatives and we look forward to seeing the wider positive impact this makes as the company continues to grow.”

The new vehicles at GBA have been funded with HSBC UK Equipment Finance, with support from Craig Onions, relationship director for Corporate Equipment Finance and Alex Wier, corporate account manager.

Founded in 1987, the firm is a total logistics supply chain operator, which offers traction services and time critical, temperature controlled and high security transportation.

The business currently employs more than 400 members of staff and operates from 18 different locations across the UK and Europe.