A business converting used cooking oil into fuel for school buses has won first prize in Peter Jones’ Tycoon in Schools competition.

Created in 2012, the competition hands out loans to school children to help them create a business. Winners are selected based on their profits, impact on the community and teamwork.

Funnelling 4 Fuel, started by a group of 16 and 17 year-olds frmo Bournemouth, scooped the first prize of a £1,000 investment from the Peter Jones Foundation.

The team of six hope to use the money to roll out their idea into more schools across the UK.

“The Funnelling 4 Fuel team really stood out to me,” said Mr Jones.

“They excelled in each area of the judging criteria, coming up with an incredibly innovative idea, working excellently as a team and getting the whole community behind them in such a short time frame."