Cheddar Water secures HSBC funding

Somerset-based bottled water company Cheddar Water is hoping to expand with a new product following six-figure funding from HSBC.

The funding has been used to replace and upgrade its existing glass bottling line, which will boost the firm’s capacity to fill glass and aluminium bottles from 800 to 8,000 per hour.

The investment is predicted to increase turnover by 20 per cent, and has created two new jobs.

Cheddar Water also uses 100 per cent biodegradable maize-starch bottles for its spring water.

David Urch. Co-owner of Cheddar Water, said: “The need for plastic-free alternatives has risen sharply over the last year and, as a forward-thinking business, we were keen to make sure our company reflected the growing demand for these products.”

“Our HSBC UK relationship manager, Matt Staite, has been incredibly supportive throughout the process, offering an exceptional understanding of how our business can diversify.”