Wates & Lloyds Banking Group identify sustainability innovations

News & views12.06.2312:00 AM by Andy Cameron-Smith

Wates and Lloyds Banking Group have concluded their joint competition to identify the next generation of sustainability innovations that will support the banking group in achieving its operational climate pledges.

The winners and highly commended finalists in the competition

The competition invited green tech innovators and providers of low carbon solutions to showcase their products for the chance to become a Lloyds Banking Group supplier. The winners will have the opportunity to pilot their technologies with Lloyds Banking Group, including a share of £150,000 to test their technologies before potentially being rolled out at scale. They will also be added to the Wates Innovation Network (WIN) to further disseminate their products to potential customers.

Due to the high quality of applicants, a ‘highly commended’ shortlist was created for a group of 10 businesses this year, including.

The five winning small or medium sized businesses were selected from over 200 applications nationwide as part of a Green Dragons’ Den-style pitch competition, which was launched in November 2022. The winners have developed a range of innovative green tech products, including a zero-emission boiler (ZEB), an air-powered shower, a smart air-brick, wireless self-powered IoT monitoring, and a thermal-imaging based home energy survey app. The winning business will support the Lloyds Banking Group aim to create more sustainable workplaces throughout their office and branch network and extend support for employees looking to make their homes more sustainable.

The competition also aligns to the businesses’ wider sustainability strategies, including Lloyds Banking Group’s ambition to reach net zero carbon operations by 2030 and Wates’ ambition to be net zero by 2045. Since 2018, the partnership has seen eight sustainable technologies piloted by Lloyds Banking Group, including one that reduces water use by 85% per year.

All winners and finalists will become official Innovation Partners through Wates Innovation Network (WIN) Portal, which was launched in 2021 as a first-of-its-kind network of market-leading sustainable technologies and services.

Dr Zainab Dangana, head of Sustainable Technology Services at Wates Group, said:

“When we launched Wates’ WIN Portal in 2021, it was with an ambition to keep building the network through collaborative partnerships with our customers. The WIN Portal is designed to connect the very best, and potentially lesser known, technologies with the built environment to move us all closer to net zero.

“Our partnership with Lloyds Banking Group has been really powerful in providing a clear path for SMEs to help grow the sustainability sector. We shortlisted 19 exceptional applicants, and selecting the winners and finalists has been very difficult for the panel, which is an encouraging sign that new innovations are continually emerging.

“All submissions for the competition have been subject to an intensive screening process, and assessment criteria to ensure competitiveness, credibility, scalability, impact, and innovation. A panel of experts from Lloyds Banking Group, Wates and supply-chain partners have provided scoring and feedback to participants to ensure all value and transparency for all.”

Daniel Coakley, sustainability manager, Lloyds Banking Group said:

“It’s been amazing to see the quality and number of applicants we’ve had for this year’s competition. It’s testament to the innovation we’re seeing across the UK, as companies develop impactful green technology solutions.

“Our partnership with Wates is a key example of how we’re working with others to drive progress towards the low carbon transition and we’re very much looking forward to working with this year’s winners to support us with our own ambitious sustainability goals.”

Winners: