NAME OF ORGANISATION: Somerset Wood Recycling
YEAR FOUNDED: 2006
ABOUT: Somerset Wood Recycling (SWR) offers work-based training to people who have been out of work for a long time, people with mental health issues and people with drug and alcohol related issues.
INVESTMENT PURPOSE: The investment has enabled SWR to upgrade its workshop, machinery, power supply and website, and will facilitate expansion of retail space and purchase of a work vehicle.
INVESTMENT AMOUNT: £109,000, £40,000
DATE OF INVESTMENT: February 2019 and June 2021
SOURCE OF INVESTMENT: Resonance South West SITR Fund
IMPACT: Work & Employment, Rehabilitation & Criminal Justice
ABOUT: Somerset Wood Recycling is a Community Interest Company based in Weston Super Mare that offers work-based training to people who have been out of work for a long time, people with mental health issues and people with drug and alcohol related issues. Their volunteer roles such as wood collection and bench refurbishment help to reduce waste by recycling wood, creating bespoke pieces and handmade coffins and selling raw materials. Not only is this a sustainable practice, but with their training roles benefit disadvantaged and vulnerable people by helping them to develop new skills and gain confidence and experience in the workplace, enabling them to gain further employment and income. SWR also provide housing references for their ex-volunteers and employees.
PURPOSE OF INVESTMENT: The investment from the Resonance South West SITR Fund has enabled SWR to upgrade its workshop meaning that they now have new, more powerful and accurate machinery as well as an upgraded power supply. The first investment of £109,000 also enabled SWR to develop their website and retail space and purchase more stock, facilitating expansion of the company.
The second investment (£40,000) will be used to create a new retail space and purchase a new work vehicle. The expansion of retail space will enable SWR to display their handmade and bespoke furniture without compromising their workshop space, and the purchase of a new vehicle will mean that SWR’s wood collection service is able to continue.
Tristan Tudor, Somerset Wood Recycling: “Working with Resonance we recently secured investment of over £40,000 – to enable us to convert space in our building into a show room for our products and furniture. This is going to massively help us in our aim to make Somerset Wood Recycling a destination for timber and timber products in the South West.”
Oliver Pollard, Head of Enterprise Growth at Resonance: “I am delighted that Resonance has invested in Somerset Wood Recycling for a second time. It is such an asset to the local community in many ways – from providing training and employability opportunities for disadvantaged people to wood waste recycling and product manufacture – an example of a business contributing to a more sustainable business both socially and environmentally. This new investment will enable it to create a much-needed decent retail showroom space alongside its manufacturing workshops as well as a new vehicle – crucial for its wood waste and collection services.”
Read more about Somerset Wood Recycling and other investments from the Resonance South West SITR Fund in its social impact report.
Resonance Limited is a company registered in England and Wales no. 04418625
Resonance Impact Investment Limited, a subsidiary of Resonance Limited, is authorized and regulated by the Financial Conduct Authority (FCA). Firm number 588462.
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