A company which transforms refuse trucks and classic cars into state-of-the-art electric vehicles has been named the Buckinghamshire Business of the Year.

Lunaz, based at Silverstone Park, picked up the prestigious honour along with the Innovative Business of the Year title at the Buckinghamshire Business Awards, which showcases the best of the county’s business talent.

The firm, which has seen a major expansion of its workforce to more than 300, recently won contracts to ‘upcycle’ bin lorries to electric power for national operator Biffa as well as Buckinghamshire Council.

It also has a waiting list for its work to convert luxury classic cars such as Rolls-Royces, Jaguars and Aston Martins into modern electric vehicles.

Lunaz has expanded its premises to almost 200,000 sq ft sq ft – four times its original size when it opened in 2018. This means it can significantly increase production of its upcycled electric vehicles (UEVs), with capacity to produce 1,100 vehicles a year.

CEO David Lorenz said: “It is a fantastic honour to receive these awards in our home county of Buckinghamshire. We are incredibly proud to be part of a thriving community of rapidly growing advanced automotive and clean tech companies. This award is testament to every one of the 175 people who work every day to build the very best up-cycled and electrified products in our Buckinghamshire home.

“We are looking accelerate the global clean-air mobility revolution and that starts right here in Buckinghamshire.”

The first truck converted from diesel to electric will be delivered to Buckinghamshire Council this autumn ahead of its wider fleet undergoing conversion in 2024.

Meanwhile, Lunaz has committed to supporting the transition of Biffa’s existing diesel refuse trucks over an initial seven-year period to clean-air electric powertrains through its proprietary upcycling and electrification process and technology.

It is estimated that an initial order of ten 26-tonne UEVs refuse trucks will save up to 210 tonnes in embedded carbon.

Organised by Buckinghamshire Business First, the Buckinghamshire Business Awards are an opportunity for local businesses to show that they are leaders in their field who excel through hard work and entrepreneurial vision. Each winner embodies the spirit of entrepreneurship that makes Buckinghamshire renowned for business success.

Matt Peachey, Head of Enterprise Zone Development at Buckinghamshire LEP, said: “Lunaz is a fantastic example of a cutting edge, high growth business and its work electrifying and upcycling vehicles, avoiding millions of tonnes of carbon going into the atmosphere, tackles the climate crisis head on. Lunaz thoroughly deserves this prestigious honour.”

Based within the Silverstone Enterprise Zone, Lunaz has received business rates relief along with £614,470 in grant funding from the Government’s Getting Building Fund for R&D into the development of remanufactured and electrified commercial vehicles.

Separate investment in the firm has come from David Beckham who has taken a ten per cent stake, along with the Reuben and Barclay families.