Green Business Fund
The Carbon Trust is launching a new fund providing vital capital for smaller businesses to replace old, power-guzzling equipment, together with expert advice to boost the efficiency and productivity of businesses in England, Scotland and Wales.
The £7m fund has been made available to SMEs on a first come-first served basis, and will offer energy saving training, cost saving assessments, implementation advice, and capital support for the installation of energy efficiency equipment.
Eligible companies can apply for a capital contribution to cover up to 15% of an energy efficiency project or equipment replacement cost, up to a maximum of £10,000.
The fund can also be used to purchase a range of equipment, including energy efficient lighting, Heating, Ventilation and Air Conditioning (HVAC) and energy efficiency controls – vital equipment across a range of business sectors, including manufacturing, retail, and hospitality.
What companies can apply into the Green Business Fund?
The Green Business Fund is an energy efficiency support service aimed primarily at small and medium-sized companies (SMEs) in England, Wales and Scotland. SMEs are defined as such if they meet two of the three following criteria:
• No more than 250 employees;
• Annual turnover not in excess of £25.9m; or
• Annual balance sheet not in excess of £12.9m
and if they are not more than 25% owned by an entity which does not meet the criteria.
Franchises are also eligible providing they have a different registered company number and are a separate legal entity to their managing partnership.
The scheme is expected to support 1000 to 2000 smaller businesses across England, Scotland and Wales. It is expected to enable participating businesses to invest £55m in energy saving projects which would deliver them lifetime energy savings of almost £130m. The programme will focus on high quality implementation to ensure the best energy efficiency opportunities are fully realised. The Green Business Fund launched 18th April 2016. Click here for further information and to apply
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