Structural insulated panel (SIPs) manufacturer, Sips Eco boosts investment to meet Scotland’s pressing need for low carbon, high quality affordable homes
Based in Fife where it has been manufacturing for over 20 years, Sips Eco employs 40 staff, having significantly increased its headcount in the past year.
The business has invested heavily in the past 18 months, throughout the Covid-19 pandemic, with shareholders funding £960k in capital equipment, with some additional assistance from Business Loans Scotland (BLS) and grant funding through the Regional Selective Assistance (RSA) Fund.
Over the next two years Sips Eco will invest a further £1m in additional capital equipment and facility expansion, creating jobs and to support Scotland’s pressing need for low carbon, high quality affordable homes.
This investment is a result of the Scottish Governments legally binding climate target for Scotland to be net zero by 2045.
The growing demand for affordable homes in Scotland means that developers, local authorities and housing trusts must put increased emphasis on speed of build, energy efficiency and the environmental impact of new housing schemes.
Sips Eco’s structural insulated panel system provides all the benefits that have been so lacking with traditional building methods. The inherent nature of the system is exceptionally strong, air tight and up to 60% quicker to build with its insulation being zero rated for ODP (Ozone Depletion Potential) and GWP (Global Warming Potential) making them the sustainable choice. As well as using 50% less timber than traditional timber fame, SIPs are up to 7 times stronger and 3 stronger than brick and block construction.
Sips Eco Panels, designs, engineers, manufacturers and constructs homes for developers, contractors, local authorities and self-builders as well as providing energy efficient structures for schools and healthcare facilities across the UK.
‘Tackling the housing crisis effectively’
Pat Queen, managing director of Sips Eco Panels, said: “The business is growing, our continued investment in facility expansion and state-of-the-art equipment is ensuring we meet the rapidly increasing demand to tackle the housing crisis effectively.
“As local authorities and developers know, the need for affordable energy efficient housing has never been greater and as a result we are securing more and more business across the UK.
“We currently employ 40 staff and in line with our continued investment strategy that figure will double over the next two years whilst more than doubling our turnover.
“We were proud to be recognised as The Best Sips Supplier in the UK last year by our industry and continue to build on our solid foundations.”