29by29 Investment summary
The AES Engineering Ltd. Group has committed to invest £29 million on environmental projects between January 1, 2021 and April 1, 2029.
Part of the commitment was an undertaking to report on progress, so we are doing what we said we would.
As of January 14, 2022 our Group had raised orders to the value of £7,760,206.52.
Of these £2,392,703.96 had been paid for, with the £5,367,502.56 outstanding mainly due to long lead times.
The AESSEAL® tree walk vision
Battery energy storage system
Mill Close solar panels
Electric vehicles and chargers
Project Investment
January 1, 2021 to January 14, 2022
A summary of the larger investments follows:-
Investments were made in the following countries:-
2
3
A much larger portion of the outstanding £22 million investment will be made outside of the UK in the other 42 countries where AES Engineering Ltd. has directly owned subsidiaries.
The additional UK investment 2022 and beyond will be circa £5 million as environmental projects for our UK Bradford and Derby facilities are likely to be approved and possibly completed in 2022. The group is also designing a BREEAM excellent building to be constructed on a 2.29 acre plot on the AMRC (Plot 1, R-Evolution, The Advance Manufacturing Park, Brunel Way, Catcliffe, Rotherham, S60 5FS), in addition to the Factory of the Future which is currently under construction at Mill Close, Rotherham, S60 1BZ.
The additional environmental cost of the new factory on the AMRC plus the environment projects in Derby and Bradford is budgeted at £5 million.
It remains to be accredited by an independent audit, but we are confident that our global
Scope 1 and 2 emissions were Net Zero for 2021 as 5,000 tonnes of offsets purchased is larger than the 4,799 tonnes of our combined global Scope 1 and 2 emissions.
We also calculated our global group Scope 3 emissions which were 86,533 (bad) tonnes CO2e in our supply chain and 464,409.6 (good) tonnes CO2e in avoidance.
With an electric car there is a cost of CO2 to make it, but an avoidance of CO2 if the user charges the vehicle with green energy.
AES Engineering Ltd. products are much less environmentally damaging to produce in terms of CO2 than an electric vehicle and the avoidance of CO2 in use is massively higher than avoidance obtained from an electric vehicle.
It remains to be accredited by an independent audit, but we are confident that our global Scope 3 emissions were also Net Zero for 2021.
Mill Close 2022
Derby EV charger
Bradford EV charger
Mill Close factory of the future
As we believe we are already Net Zero globally for Scope 1, 2 and 3 emissions for 2021, why are we investing a further £22 million on environmental projects?
Well we said we would, and it is what you would expect from a Trust Company in Business (the inaugural winner of the Dragon Award of ‘Business of Trust Champion’ from the Lord Mayor of the City of London awarded in 2018) as we always try to keep our word.
We also know that we will reduce our CO2 Scope 1 and 2 emissions by investing an additional £22 million, which is the right thing to do, but we are equally certain that the cost of emissions offsets will rise in the future.
In the UK (100 percent green) and USA (90 percent green) we buy green energy so £7,027,131 of our investment will have no impact on our CO2 scorecard. We are making the investment of over £7 million because it is the right thing to do to make more green energy available for others, and we also believe the cost of green energy
will rise exponentially in the future. We also strongly believe that any business that is not genuinely working to reduce the impact of climate change will lose its social right to operate, so the investment is also self–preservation.
Betterworld.Solutions is a philanthropic entity that exists to persuade Boards to provide a conduit for more environmental projects to be brought to their attention. It is based on the principle that Board members would gladly make more environmental investments if suitable projects were brought to their attention.
In 2022 we are going to try to bring environmental projects to the attention of Boards in any industry that has evaporating processes. Unnecessarily boiling cold water on an industrial scale is both harmful for the environment, wastes water and limits production.
“why are we investing
a further £22 million on environmental projects?”
The Lord Mayor of London
Dragon Award 2018
Business of Trust Champion
presented to AESSEAL®
4
Project Investment
January 1, 2021 to January 14, 2022
Chris Rea, CBE, DL, BSc, CEng, HonFIMechE
Managing Director
On behalf of the AES Engineering Ltd. Group of Companies