Buckinghamshire LEP's story
At Buckinghamshire LEP (Local Enterprise Partnership), we help businesses to access funding, expertise, and resources to accelerate the economic growth of the county. We are also committed to helping the local business community to reduce carbon emissions and have established a range of sustainability-focused initiatives, including a net-zero collaboration circle and low-carbon workspace programme through our Growth Hub.
Advanced engineering is one of the four pillars of our local industrial strategy, and we're thrilled to be collaborating with vehicle electrification specialists Lunaz as they work to build a clean-air and low-carbon future. Lunaz specialises in converting classic cars from carbon-producing fuels to clean electric power and has developed technology to support the remanufacturing of commercial vehicles to green energy – particularly waste trucks.
Our relationship with Lunaz began when they moved into the Silverstone Enterprise Zone site at Silverstone Park – a technology park with a strong focus on innovation, business development, and engineering – opposite the world-famous racecourse. As a business located in an enterprise zone, Lunaz receives a range of benefits, including tax relief for the first five years of their involvement at the site. It also means that the tax they pay is invested in local economic development services.
Lunaz is part of the Silverstone Technology Cluster that we helped to establish. The cluster is focused on promotion, support, and thought leadership across advanced engineering, electronics, and software businesses. We're helping businesses in these sectors to improve their efficiency, collaborate more effectively, and promote themselves as a cluster both nationally and internationally. An important part of the support we provide as a LEP is fostering collaboration between different sectors and organisations, bringing together expertise and ideas to further local innovation.
Another way we have supported Lunaz is through their application for a grant from the Government's Getting Building Fund. They were awarded £250,000 to develop their technology and production. This included moving into the electrification of commercial vehicles and the exploration of hydrogen cell power. There is huge potential in the technology that Lunaz is creating, and upcycling a refuse truck at the end of its life and transforming it to run on clean power can save 50% compared to the cost of a new vehicle.
Over the past 18 months, Lunaz has grown from just 15 staff to 200 and has expanded from a smaller workshop location to a factory site at Silverstone. They have strong backing – not just locally – but from a number of high-profile investors and expect significant growth in both domestic and international markets – including the US and the Gulf States.
Buckinghamshire LEP has built a strong relationship with Lunaz and we are excited to continue to play a part in their future.
Useful learnings from Buckinghamshire LEP
Don't be too fixed in your approach – If you get hung up on one particular solution or proposal, it can blind you to new possibilities, especially when technology is changing so fast. Keep an open mind, keep learning, and remember that everyone can make a difference when it comes to carbon reduction.
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