Working together for sustainability – Announcing the winners of our innovation competition with Lloyds
A nationwide competition to identify green technology which will help one of our key customers meet its climate pledges, has just concluded after 200 applications were received.
The competition – ran jointly with Lloyds Banking Group – 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 have the opportunity to pilot their technologies with Lloyds, 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 market their products to potential customers.
Due to the high quality of applicants, a ‘highly commended’ shortlist was created for a group of 10 businesses*, including insulation, environmentally friendly paints and recycling companies.
The five winning small or medium sized businesses were selected from over 200 applications nationwide as part of a pitching 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 Lloyds’ 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’ ambition to reach net zero carbon operations by 2030 and our own ambition to be net zero by 2045. Since 2018, the partnership has seen eight sustainable technologies piloted by Lloyds, 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.
When we launched our 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.”
Dr Zainab Dangana
Head of Sustainable Technology Services at Wates
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.”
Sustainability Manager, Lloyds Banking Group
Future Motors – Smart motor system
Anchor Magnets – Reflective panels for radiators
Ecoducts – Non-metallic insulated HVAC ductwork
IES – Digital twin suite
Graphenstone Paints – Eco paints
TerraCycle – Zero waste box
Window Insulation – Window insulation
Centrego – Electrochemical disinfection & cleaning solution
Signify – 3D Printed Lighting
Verv – Artificial Intelligence powered isolators