HSBC Helps Chewing Gum Removal Firm Take On American Market

Steam-e, the company behind the first ever battery-powered chewing gum removal machine, has landed a deal with the world’s largest manufacturer of cleaning machines after securing a six-figure finance package from HSBC.

Since launching the product to market in November 2015, Steam-e has been using the funding provided by HSBC to manufacture the component parts needed to complete the 1,000 unit order, which will see the firm enter the US market for the first time.

Jared Brading, Managing Director at Steam-E, said: “We’ve been developing the machine since 2013 and until now have been funding the whole process with our own money. Without the support of HSBC we wouldn’t have been able to land this incredible deal or explore these new markets across the globe.

“We have big plans to continue working with HSBC over the next 12 months to help us complete new orders, as well as bring our manufacturing back to the UK which is something we’re really passionate about.”

Sarah Lucas, HSBC’s Area Director for Bristol, Gloucestershire and Wiltshire, added: “With our unrivalled international network giving us access to around 90% of world trade, HSBC can help guide businesses as they seek to explore opportunities overseas. We are therefore delighted we’ve been able to support Steam-e with their first venture into the US market.

“We are also continuing our discussions with Steam-e around further opportunities to develop this highly innovative product and expand into areas they haven’t been able to consider before.”

Chewing gum removal has become a worldwide cleaning concern and this deal marks Steam-e’s first foray into the US market, where it is estimated that waste from gum amounts to approximately 250,000 tonnes each year.