University of Sheffield to be biggest green hydrogen producer and drive sustainable aviation fuels development

The University of Sheffield is set to produce more green hydrogen than any other UK research centre, thanks to new equipment that will support vital research to help decarbonise the aviation industry. Sheffield’s Energy Institute is installing a new hydrogen electrolyser – technology that produces hydrogen by splitting water into hydrogen and oxygen. The equipment will be used in research to develop and test new hydrogen-based sustainable aviation fuels (SAFs). The electrolyser, from IMI Remosa under the new brand IMI VIVO, is being installed in the University’s Sustainable Aviation Fuels Innovation Centre (SAF-IC) – the UK’s first R&D facility that is able to develop, test, validate and help certify new fuels all in one location. The facility, along with the new electrolyser, gives the UK much-needed R&D capabilities in SAFs and can play a major role in helping reduce the environmental impact of air travel. SAFs are seen as a vital step in reducing global carbon emissions. The aviation industry is responsible for around seven per cent of total carbon emissions in the UK alone and this number is growing fast. However, aviation’s reliance on fossil fuels makes it a challenging sector to decarbonise and new fuels are subject to strict standards and regulations before they can be approved for use. Researchers from Sheffield will work with partners in the aviation industry to develop new hydrogen and CO2-based fuels that meet these strict standards. They will also work with other industries across the UK to help them switch fuels and decarbonise. With the new electrolyser, the University is capable of producing nearly 140Nm3 per hour of green hydrogen with storage capacity of 1450Nm3 – equivalent to the electricity required to power 200 homes. Professor Mohamed Pourkashanian, director of the University of Sheffield’s Energy Institute, said: “In order to drive forward a decarbonised future, we must understand more about the possibilities and capabilities of green hydrogen, particularly with regards to sustainable aviation fuels. “With this new electrolyser at our SAF-IC facility, we can work with industry and fellow academics to discover and demonstrate the best way to make a hydrogen economy, and a greener future, a reality. “We are thrilled to have the capacity to produce the green hydrogen in our site, so that our research and development into SAFs (especially via Power-To-SAF), industrial fuel switching and decarbonisation can continue. “We’re also pleased to work with IMI VIVO on this project, and we are now having discussions with the team that could lead to future international collaborations and projects.” The SAF-IC facility is based in the University of Sheffield Innovation District – land on the outskirts of Sheffield that is home to some of the University’s world-leading translational research centres that are driving economic growth, investment and creating jobs in the South Yorkshire region. The University’s Advanced Manufacturing Research Centre (AMRC) – a hugely successful academic and industry R&D facility – recently announced one of the North of England’s biggest ever research projects as part of the UK government’s first investment zone in South Yorkshire. The project will develop new ways to manufacture lightweight aircraft components, another step in reducing the environmental impact of aviation. The University is also part of a consortium led by Virgin Atlantic that is set to lead the world’s first 100 per cent SAF transatlantic flight, which is scheduled to fly later this year (28 November 2023). Through the University of Sheffield’s research facilities, South Yorkshire is fast becoming the UK’s leading hub for sustainable aviation R&D. The equipment that has been installed at the University is a PEM-based green hydrogen electrolyser from IMI Remosa under the new brand IMI VIVO. Giuseppe Buscemi, president, IMI Critical Engineering Europe, said: “The aviation industry is responsible for around seven per cent of the UK’s total carbon emissions and this figure continues to rise. Developing new fuels and solutions will therefore be essential to reversing this trend and decarbonising the sector. “We are proud that the IMI VIVO electrolyser will prove vital to upgrading the University of Sheffield’s research and development capabilities, helping break the aviation industry’s reliance on fossil fuels. “We expect this technology, both here and in other applications, to play a pivotal role in reducing emissions across multiple sectors as part of our commitment to providing breakthrough engineering for a better world.”

Drax Community Fund donation saves Village Hall from closure

Renewable energy company Drax Group has provided new funding for 25 community projects – and has saved at least one form closure.

That’s the Village Hall in North Yorkshire’s Henshall, where Drax cash has made possible a new boiler. Said Hall Treasurer David Hardaker: “The new boiler has been installed thanks to the generosity of the Drax Community Fund plus local support via a concert which raised £490.

“Without Drax’s support the outcome would have been so different. We are now looking forward to a warm space in the winter that will ensure that all our groups continue and hopefully expand. Until Drax intervened so generously we were looking at closure, without a doubt.” The £35,200 from the company’s Community Fund, donated between April and June this year, has gone to projects that provide STEM education and skills development, enhance green spaces or improve communities. Jane Breach, Drax UK Community Manager, said: “As part of Drax’s commitment to being a good neighbour in the communities where we operate, we are delighted to announce this quarter’s donations for 25 community-based organisations including Lindsey Lodge Hospice and Brayton Youth Connect. “These groups make a tangible difference to people’s lives and help us make a positive impact on people, nature and the climate in our communities.” In the previous quarter, Drax donated to groups including PlayStillingfleet, who look after the Stillingfleet playground, for new play equipment, and Hensall Village Hall, to help fund a new boiler. Both sites are in the vicinity of North Yorkshire’s Drax Power Station. Ross Powell, Chair at PlayStillingfleet Community Group, said: “The funding has allowed us to successfully deliver the final phase of our playground project. The playground has quickly become a focal point for children and parents to come together and build the next generation of friendships in the village.” Drax’s Community Fund provides donations of £500-£2,000 for community-led projects. In addition to the Drax Community Fund, Drax also provides larger grants of up to £50,000 through the Drax Foundation.

Normanton tool firm secures six figure funding boost

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CMS Tools is geared for growth after receiving a six figure investment to strengthen the firm’s position in the Yorkshire market and beyond. The funding received is from NPIF-FW Capital Debt Finance which is managed by FW Capital and part of the Northern Powerhouse Investment Fund. It is supporting plans to invest in infrastructure, create new jobs and the bulk buy of products to improve CMS Tools’ margins and increase profitability. Headquartered in Normanton, West Yorkshire, CMS Tools was established in 1981 and has a turnover of £3m. The firm is a distributor of high quality, specialist roofing tools and accessories to customers across the UK working in the building trade and construction sector. It has a nationwide network of stockists, with a range that includes sustainable wood-based products delivered from re-planted and sustainable sources. Simon French, Managing Director at CMS Tools, said: “The investment from FW Capital is enabling us to access working capital and bring new product categories into our portfolio. We’re also investing in infrastructure and increasing our workforce so we can continue to provide high levels of service our customers have come to expect. The process has been well managed by FW Capital, with funds available within the expected time.” The investment was provided by Nick Donaghy, assistant investment executive and Alex Gent, senior investment executive at FW Capital. Ben Merrick, commercial relationship manager at YB Financial Advisory Ltd introduced Simon French from CMS Tools to the FW Capital team. Nick Donaghy, FW Capital, assistant investment executive, said: “CMS Tools is a longstanding and profitable business led by an experienced management team. It has a wide spectrum of established customers and a healthy pipeline going forward which includes a number of new potential clients. “The business has a multi-faceted growth strategy and we’re pleased to support this next stage of their development. FW Capital is committed to investing in local businesses via debt finance, supporting future growth across the region.” Ben Merrick, commercial relationship manager at YB Financial Advisory Ltd, added: “For the past several years, we have collaborated closely with CMS Tools, and we are delighted to remain their primary point of contact for securing the necessary additional funding to fuel the ongoing expansion of their business. “In the current climate of uncertainty, where businesses may encounter difficulties in obtaining prompt responses from their banks, I have full faith in my partnership with Nick and Alex from FW Capital. Our joint efforts will ensure that we can offer steadfast support to local businesses in meeting their diverse funding needs.”

Cottingham day nursery sold to expanding group

Specialist business property adviser, Christie & Co, has sold Wishing Well Day Care in Cottingham, Yorkshire. Established in 2002 by the exiting owner, Victoria Wheeldon, Wishing Well Day Care is a 49-place day nursery that has been designed with the sole purpose of caring for and nurturing the development of young children between the ages of six weeks and five years. Victoria recently decided to sell due to family commitments. Following a confidential sales process with Vicky Marsland at Christie & Co, which resulted in an offer accepted within three months of its launching to market, the setting has been purchased by Vivienne Pooleman of Blue Sky Day Nurseries. This is the group’s fourth setting in East/North Yorkshire and Vivienne remains keen to continue its growth plans in the coming years. Victoria Wheeldon, former owner of the setting, says: “Owning Wishing Well Day Care for over 21 years has been extremely rewarding, seeing so many lovely young children develop and grow, whilst providing care for parents/carers. “I count myself very fortunate to have met and worked with so many wonderful colleagues, customers, and suppliers during this time, I will miss you all. Selling the nursery was a very difficult decision to make, but I am now at the time in my life where I want to take some time out with my family and see what the future holds.” Vivienne Pooleman, owner of Blue Sky Day Nurseries, says: “It is with much excitement that I can announce Blue Sky Day Nursery will be taking over Wishing Well Day Care in Cottingham. Wishing Well is a wonderful setting with an amazing team and, as such, is a great match to the other Blue Sky nurseries. “The team are remaining in their roles and so parents can rest assured that their children will continue to get the same great care as they are used to.” Vicky Marsland, associate director – childcare & education at Christie & Co, says: “Like most transactions, these processes are rarely straightforward and, despite a few items cropping up during the process, we were able to overcome them. I’m so pleased, for both the seller and the buyer, that we were able to get this over the line. “This is a beautiful, profitable nursery which I truly believe will flourish under the ownership of Blue Sky and could even lead to creating more opportunities for career development for the staff. It’s been a pleasure working with Victoria, and I wish her all the best in her future endeavours.” Wishing Well Day Care was sold for an undisclosed price.

Misconceptions about accountancy creating barriers for next generation of talent

New research shows that many young people have misconceptions about careers in accountancy which may be creating unnecessary barriers and preventing them from seeing it as an attainable option, limiting the potential future talent pool of the profession. 

In the research, accountancy firm Grant Thornton UK LLP explores Generation Z’s view of accountancy as a career.  Analysing the responses of 2,000 people aged between 16 – 25 in the UK, the study seeks to better understand the attitudes and perceptions towards the accountancy sector of this age group.   

The top misconceptions held by Gen Z about accountancy, identified in the research, are:  

  • 62% believe you need high grades to become an accountant   

  • 57% believe you need to go to university to become an accountant   

  • 57% think training for accountancy qualifications is expensive   

  • 53% think accountants sit at desks all day  

The level of misunderstanding about the profession identified by the research may be explained by the finding that two thirds (65%) of young people have never received careers advice about accountancy.    

Those that have are most likely to have received it at school or college, however the type of school attended affects how much information young people receive. Those attending private schools are 20% more likely to have received careers advice about accountancy than those from comprehensive schools. Private school students are also more likely to know an accountant than those attending comprehensive schools (52% vs 43%).  

Social media and online research are the next most popular ways to source information about accountancy for Gen Z. Those from lower socio-economic backgrounds are more likely to find information in this way, they are also less likely to receive advice about the profession from a family member or friend. 

Richard Waite, people and culture director at Grant Thornton UK LLP, said: “There are now so many different routes available for young people considering joining the accountancy profession, whether that is starting on an apprenticeship straight from school, undertaking an internship or placement, or following the traditional graduate route. But it’s clear that there remain significant, and detrimental, misconceptions about access to and working in the accountancy profession. 

It’s therefore vital that employers, such as Grant Thornton, take action to help bridge that gap so we do not miss out on attracting the next generation of new and diverse talent to the sector. Employers need to take the time to actively educate young people, to reach out and work with schools in target areas, such as social mobility cold spots, to tackle some of these false barriers and provide much needed advice and insight to those considering the next step in their lives.” 

The research finds that the school you attended has a significant impact on whether you view accountancy as an attainable career. Private school attendees are 25% more likely to believe that a career in accountancy is attainable than those from comprehensive schools. 

Gender is also found to impact young people’s perceptions of attainability. Men are 13% more likely to believe that a career in accountancy is attainable than women. Non-binary people are less likely than men or women to feel a career in accountancy is possible.  

Overall, half of respondents believe that accountancy is an attainable career for them, while one in four (24%) disagreed. Of those who disagreed, one third attributed it to not knowing enough about the profession to consider it for a career.  

James Brown, practice leader for Grant Thornton UK LLP in the Central and East region, said: It’s clear that the accountancy profession needs to work harder to bust historic misconceptions. There remain clear misunderstandings about not only the routes to entry but also the scope of the career on offer, which may be preventing many from considering it as an option. 

“Both the people and the careers available within accountancy are now more varied and diverse than ever before, with opportunities for international travel, varied work across different sectors and specialities and long-term career prospects. It’s evident that we need to showcase this more prominently and shine a light on the reality of the working accountancy world and the broad and rewarding career path it can offer. 

“The school you attend, your background or gender should not dictate your access to information or the career path you follow yet our research shows that these factors contribute to the level of exposure to and understanding that a young person may have of the profession. 

“Volunteering our time, through established initiatives such as Access Accountancy, RISE and our own firm’s Schools Enterprise Programme, to build confidence and knowledge with a wider range of young people will encourage a better understanding of the sector. Without a concerted effort to tackle these lingering misconceptions, we risk, inadvertently, missing out on a huge diverse pool of untapped talent.”

Yorkshire food group acquires first non-food business

Regal Food Products Group Plc, the food group owners behind household brands, Regal Foods and Yorkshire Baking Company, have acquired Packaging ‘R’ Us for an undisclosed sum – their first non-food and drink business. The acquisition comes in response to the group’s long-term vision of expanding and strengthening their wholesale and food service offering, whilst providing a diverse product range within their brand portfolio. Since the recent challenges of Covid-19 and Brexit, the Regal group have identified the importance of becoming a one-stop solution for their customers, delivering services including finished goods, ingredients, and now packaging. Packaging ‘R’ Us is a well-established catering supplier, manufacturing and specialising in a wide range of disposable food packaging solutions, including foil containers, catering foil, disposable utensils, and plastic containers. Younis Chaudhry, CEO of Regal Food Products Group Plc, adds: “Following on from our Just Desserts Yorkshire acquisition 18 months ago, we are delighted to be bringing our first non-food and drink business into the Regal group. “Acquiring Packaging ‘R’ Us will allow to develop our wholesale arm of the business, whilst offering our customers an eclectic range that will naturally sit alongside our existing products and brands. “As a PLC we recognised a business that presented itself with opportunities and using our existing teams, manufacturing expertise, distribution networks and channels to market, we can really build and scale what is already a great business. “This is an extremely exciting milestone in the Regal journey, as we not only welcome our first non-food brand into the group but relocate Packaging ‘R’ Us and its production to our main manufacturing and distribution facilities to Bradford. “As a business that has the Bradford community close to its heart, we are pleased the new production site will create approximately 20 new jobs offering employment in a range of keys areas, whilst providing platforms and opportunities for personal development.”

Inflation sees further fall – but remains stubborn

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Inflation has fallen to 6.8% in the year to July, new data from the Office for National Statistics (ONS) shows, with the consumer price index (CPI) down from 7.9% in June. It marks the second month in a row that the rate of inflation has dipped sharply. Falling gas and electricity prices provided the largest downward contributions to the monthly change, while a slower rise in food prices helped ease inflation rates. The decline sees prices increasing at a less rapid rate than wages, indicating further pressure for the Bank of England to raise interest rates next month. Moreover, core inflation, which takes out energy, food, alcohol and tobacco to give a clear picture of underlying trends, was unchanged from 6.9% in June. Alpesh Paleja, CBI lead economist, said: “A big fall in inflation was widely expected in July, given the 37% cut to Ofgem’s energy price cap. However, the Bank of England will be more concerned about signs of persistent domestic price pressures. In particular, the latest data points to continually strong wage growth, which means that more interest rate rises are in the pipeline. “Inflation will continue to fall through the remainder of this year. While this is welcome news for households, the Bank has been clear that they’re willing to keep interest rates higher for longer if needed, to reign in price pressures. So, at least for the time being, tighter financial conditions for households and businesses look like they’re here to stay.” Martin McTague, national chair of the Federation of Small Businesses (FSB), said: “While a drop in inflation provides some comfort, today’s figures show less of a drop in inflation than hoped for, and will renew fears of a wage-price spiral, and of yet more base rate hikes in future. “The worry now is that rising wages ignite a fresh wave of inflation in September, which will threaten the momentum from June’s GDP growth. “The cost of doing business crisis still has a grip on the small business community, as prices for many key inputs, from energy to components and raw materials, remain far above where they were a year ago. “Any reduction in inflation is good news, but the huge toll that spiralling prices have inflicted is still being keenly felt by small firms. “Despite the inflationary pressures that we’ve seen for more than a year, more small businesses have seen their revenues shrink over each of the last five quarters than have seen them increase, according to our research. “Small business confidence levels fell back in the second quarter, with stickier-than-expected inflation alongside interest rate increases playing a major part in that. We very much hope that these inflation figures continue on a downward trend in Q3, to give confidence among small firms a chance to recover. “Yesterday’s record wage increase figures will however make the path back to lower inflation and lower interest rates more complicated, while the news that GDP rose by 0.5% in June makes the job of maintaining recovery while bearing down on inflation a tricky one. “With low interest rate deals on loans and finance options near-impossible to find, small firms looking to grow will be keeping their fingers crossed that the end of base rate rises is in sight. “We’re calling on the Government to use the rest of the summer to plan a growth agenda for small firms, and tackling late payment should be top of the list. Having to chase overdue payments is a huge drain on small firms’ resources, increasing their cost of doing business and making them more likely to have to apply for finance to manage their cashflow.” Remaining stubborn, inflation sits much higher than the Bank of England’s 2% target.

Clean energy company ITM plans venture with Italian energy conversion specialist

Sheffield-based clean energy company ITM Power is to collaborate with Italian energy conversion company FRIEM to develop a standard Power Supply Unit design optimised for ITM’s 2MW Plug & Play electrolysis container.
Based on state-of-the-art electrotechnical solutions, the development will leverage each company’s expertise and experience from projects executed both jointly and independently. The aim is to further improve the performance of the PSU by closer integration with ITM’s electrolyser technology. Also, the standardisation aims to further drive overall system reliability, while lowering cost.
ITM is a leader in the design and manufacture of electrolysis solutions based on proton exchange membrane technology. Electrolysis requires electrical energy for the process of splitting water into hydrogen and oxygen gases. Power conversion is therefore a key function of electrolysis systems, and it is necessary to ensure a high level of integration.
FRIEM is a leader in electric energy conversion systems with 70 years of experience as a supplier into industrial applications. The PSU converts AC power supplied from either the electricity grid or directly from renewable generators to DC power in a form suitable for the electrolysis process.  The characteristics of the PSU therefore contribute to the performance of the overall system.
Dennis Schulz, CEO of ITM Power, said: “Today’s announcement with FRIEM follows the communication of our collaborations with Mott and Gore, all of which support ITM to cement our technology leadership in PEM electrolysis. A closer integration of electrolyser and PSU will further advance overall system performance and drive down cost.”

Lincolnshire Chamber appoints new Head of Membership

Lincolnshire Chamber of Commerce has recruited Paul Green as its new Head of Membership. Paul joins the Chamber from Hegarty Solicitors, where he worked as Business Development, working collaboratively with partners to develop and implement a business growth strategy. Before that, Paul worked with South Kesteven District Council focusing on business support and economic development. He said: “I am delighted to join both Lincolnshire and Rutland Chamber of Commerce and look forward to meeting and working with everyone who plays a part in shaping and developing the Chambers. My diary is open for discussions with past, present and future members!” In his new role, Paul will work closely with the Chief Executive to oversee  all membership activity, through working closely with the Membership Executive team and providing strategic input to all Chamber services. He added: “It’s an exciting time to be joining Lincolnshire and Rutland Chamber of Commerce with more events than ever before, meaning there are a growing number of opportunities for our members to get involved, grow their networks and meet new like-minded businesses. I strongly believe the Chamber of Commerce can provide the necessary support, guidance and prospects that will help the county grow together”. Rutland Chamber of Commerce has recently formed as part of Lincolnshire Chamber of Commerce, which has been supporting businesses for over 130 years. Together, both Chamber of Commerce organisations aim to support businesses across the two counties.

More than 1,200 Lincolnshire firms are suffering ‘financial distress’, says insolvency expert

Lincolnshire businesses are facing a growing burden of economic pressures, including rising interest rates and higher labour and materials costs, according to the latest Red Flag Alert data from independent business rescue and recovery specialist Begbies Traynor. The report found that 1,260 businesses in Lincolnshire were suffering early or ‘significant’ distress in Q2 2023, a 3.5% increase on the same period in 2022 and up 8.2% on the first quarter of this year. ‘Significant’ distress refers to businesses showing deterioration in key financial ratios and indicators including those measuring working capital, contingent liabilities, retained profits and net worth. The latest data is sourced from a completely new Red Flag dataset that has involved deep dive analysis of eight years’ company data by data scientists over the past two years to track key factors behind company distress and failure rates. Of the 22 sectors monitored by Red Flag Alert, in Lincolnshire five sectors reported increases of 10% or over in the number of companies in significant financial distress compared with a year ago. Sectors suffering the biggest increases in significant distress in the region, compared to last year, included general retail (26.8%), telecoms and IT (22.8%), food and drug retail (14.3%) and support services (13.9%). Gareth Rusling, who heads Begbies Traynor’s Lincolnshire offices in Lincoln, Scunthorpe and Grimsby, said: “Consumers and businesses have both been hit hard by higher interest rates and there are mounting concerns that the situation may worsen in the second half of this year in Lincolnshire and across the UK, when winter sets in and energy costs go up. “Consumers are feeling the pinch and cutting back not just on discretionary spending but also on essentials to counteract higher mortgage and loan repayments. Meanwhile businesses are also seeing the cost of their debt rising and, still reeling from the effects of the pandemic and set back by higher energy bills and the effects of the war in Ukraine, it’s no wonder that the number of distressed companies has jumped since last year. He added: “Our advice to businesses is to monitor their financial position carefully, and seek advice from qualified restructuring professionals as soon as any problems become apparent to avoid them escalating.”