Key Finance is attracting a lot of interest with its ‘Key Is Green’ service to reduce energy expenditure
When John Mounsey founded Key Finance in 1979, he had in mind a traditional, old-fashioned leasing company. But 30 years later his son, Henry Mounsey, has tried to do something different, coming up with an innovative idea which he called “Key Is Green” (KIG).
Effectively, KIG is still part of Surrey-based Key Finance, but it comes up with solutions to help customers to save money and, at the same time, reduce their carbon footprint (and issue certificates to that effect).
In essence, KIG approaches a company – say a convenience store, but it could be any type of firm or even local governments – and offers them to “assist in reducing energy expenditure”.
John Mounsey explains: “In the area of convenience stores, where we have been particularly successful, we look at their refrigeration and lighting systems. We have a team of technical experts to offer different solutions.”
His son – who came up with the idea a couple of years ago together with a colleague, Andy Wheeler – adds there is a four-step process for finding the right solution, which starts with an engineer looking at the premises.
Once the information is collected, KIG comes back and tells the customer what they need to do – usually a combination of lighting, refrigeration and heating optimisation – and finally the new equipment is installed.
John Mounsey claims: “KIG customers will see a return on their investment anywhere from 10 months to 36 months in the case of outright purchase.”
However, he adds most users “will choose from one of three finance options: finance lease, operating lease or ‘pay-as-you-save’”.
He says tKIG can cut anywhere from 15 to 40 percent from an energy bill.
KIG currently has 12 permanent staff, plus a number of consultants. Also, John Mounsey adds, Key has no shortage of funds from its partnering banks – which include BNP Paribas, ING and Close Brothers – because “not one bank has had one penny of bad debt with us, even through this awful recession”.
And both father and son are confident that KIG will end up becoming a leading player in the green sector.