Today (18 April), The Carbon Trust has launched a new fund which it says provides vital capital for smaller businesses to replace old, inefficient equipment, along with expert advice to boost the efficiency and productivity of businesses across 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.  

The scheme is expected to support 1000 to 2000 smaller businesses and enable those participating to invest £55m in energy saving projects, which would deliver them lifetime energy savings of almost £130m. The scheme will focus on high quality implementation to ensure the best energy efficiency opportunities are fully realised. 

Managing director, advisory, at the Carbon Trust, Hugh Jones, said: “Our experience of working with thousands of companies across the UK indicates that year-on-year savings of 20% to 30% can be delivered through action on energy efficiency.  We’d encourage smaller companies to apply to make the most of the fund on offer in order to realise significant savings on their bottom line.”

To accompany the announcement, new research of senior decision makers within SMEs found that almost half (46%) are concerned about the amount they currently spend on energy. 

15% of businesses in the South West have been asked by customers (or users) to reduce the environmental impact of their operations and/or products. This is above the 12% national average.Lack of money to invest in new energy saving equipment and competing business priorities rank as the top barriers for businesses in the South West to improve their energy efficiency (21% for each).

To date, the Carbon Trust has saved British business £5.5bn and 55Mt CO2 through advice and financial support.

It is holding a workshop in partnership with Bath & North East Somerset Council to enable small and medium sized businesses in South West England to learn more about the Green Business Fund, and how to identify opportunities to reduce energy costs.

The workshop will be held on 21 April 2016 at the Guildhall, High Street, Bath, BA1 5AW. For more details and to book a place click here http://ow.ly/4mODJ2

For more information about the fund and to apply click here http://ow.ly/4mOE6l