Carbon Trust aids business updates

David Kidney MP has launched the Carbon Trust’s Big Business Refit, which is providing £100m interest free to help SMEs modernise their businesses and reduce C02 emissions

According to research released by the Carbon Trust, old, inefficient equipment costs British businesses £3.3bn a year in wasted energy.

Stewart Company, a Croydon-based manufacturer of gardening and catering equipment, has already received £400,000 to upgrade its plastic moulding machines and is on course to savings of £120,000 annually as a result.

The government-endorsed initiative provides businesses with expert guidance, plus financial support in the form of £100m in interest-free funding, which can be paid back through the energy savings that the equipment delivers.

On average, businesses can save £14,000 a year off their energy bills with a refit, but the Carbon Trust clams this could rise to £120,000 a year, depending on the machinery replaced.

As part of the launch, the Carbon Trust is holding free Big Business Refit workshops for companies in London, Birmingham, Manchester, Leeds and Newcastle. Businesses have been invited to attend the clinics in their area to learn how to save money by reducing their energy spend, how to tell when old equipment becomes a burden on the bottom line and how to replace it.