Online PR News reports -Firms planning to invest in energy-efficient plant and machinery could be eligible for an interest-free loan of up to £500,000. The Carbon Trust has increased today the maximum value of the energy-saving loans it can make available to small and medium-sized businesses, in response to increased interest in high-value loans over the past three months
The Interest-free loans, made available as part of the Carbon Trust’s £100m ‘Big Business Refit’ campaign, are designed to ensure that repayments are covered through lower energy bills. Therefore, costs savings delivered after the loan is repaid go straight on the bottom line.
Any business that does not qualify for the Carbon Reduction Commitment (CRC) or EU carbon emissions trading scheme (ETS) is eligible to apply for the interest-free loans.
Around 800 interest-free loans had been awarded since the scheme was launched last year, and it remains on track to lend more than £100m over the next 18 months.
North East steel components manufacturer Astrum was awarded £400,000, and has used the money to replace its ageing air compressors as part of a project that is expected to cut energy costs by £80,000 a year.
Interest-free loans pay for themselves within years through energy savings
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