LDC Top 50 2024
Peter Moody
Founder
GAP Group North East
Peter Moody joined the Royal Navy at 17, becoming the youngest corporal in his branch. After his service, he launched GAP Group North East in 2005. “I noticed the Waste Electrical Electronic Equipment directive was coming in, so I used my military gratuity, took out a £6,000 loan, remortgaged my house and started an electrical waste recycling business.”
Today, GAP Group North East recycles 700,000 fridges and 18,000 tonnes of small domestic appliances annually from its plants in Gateshead. It is also opening a new facility in Perthshire, powered by 100% green energy. “We’re building the most environmentally friendly fridge recycling facility in the world,” he says.
We’re committed to sustainability, the community, and we’re transforming waste into valuable resources while empowering the next generation to strive for a better, greener future.”
Q&A
Who has inspired you most in your career?
I left school at 15 with no qualifications and found out later that I’m dyslexic. School didn’t suit me, but I’ve never shirked hard graft. As a kid, I watched my mother juggling three different jobs, my father getting up at 5am every morning to work as a coal merchant. My work ethic comes from them and I’m grateful.
What was your toughest moment?
I established GAP Group on the back of the newly established WEEE directive, but the legislation was significantly delayed. I remember crying and hugging my wife in the kitchen because I’d poured all our money into the business, and we were 3 weeks away from losing everything, including our family home. The directive finally became law in 2007 and we were off!
What’s your proudest moment?
Businesses have a responsibility to the communities they operate within. We have a division titled Gap Renew, which refurbishes used electrical appliances. We’ve started working with The National House Project, sending economical electrical ‘bundles’, washing machines, fridge/freezers and cookers, to help teenagers who are leaving the care system and into council houses. It’s important to give such disadvantaged young adults a leg up in life.
What’s your personal ambition?
I have lots, I expect revenues to hit £47m by end of 2026. As the business grows, I’d like to establish a foundation that funds the education of 100 girls from developing countries. I have two daughters and I don’t want any barriers to stop them reaching their goals. One daughter is an intensive care nurse, the other a social worker, vital jobs but relatively low paid. I don’t want them worrying about money in the future, my parents done plenty of that.
