New dedicated green finance scheme for manufacturers
Energy-efficient finance market potential in the UK manufacturing sector to be £4.6bn over next three years reveals new analysis from The Carbon Trust and Siemens
New analysis from the Carbon Trust and Siemens has shown that the estimated market for energy-efficient equipment finance over the next three years in the Manufacturing sector is £4.6bn. However, manufacturers remain cautious about investing in equipment upgrades in a slowly recovering economy. In order to make such investment affordable, the Carbon Trust and Siemens have launched a new scheme to provide UK manufacturers with green equipment finance. This major new scheme will boost green growth and unlock business investment in the low carbon economy – key to economic recovery.
Enabling investment in such technologies as low energy lighting, energy-efficient motors, low carbon air conditioning or biomass heating, the new dedicated green finance scheme is a first and will enable manufacturing businesses to invest in equipment which not only saves energy costs, but also often helps improve productivity.
Any business is able to apply for new green growth finance from the scheme, which is designed to match monthly payments with the equivalent savings from lower energy consumption. The Carbon Trust will apply its expertise in carbon saving from energy-efficient technologies to provide a reliable and trusted assessment of the carbon, energy and cost savings of any application for finance. Siemens Financial Services Ltd. in the UK (SFS UK) provides the financial backing and manages the provision of funding.
Myles McCarthy, General Manager of Carbon Trust Implementation Services, commented: "The introductory few weeks of the new scheme have shown that there is a huge desire amongst British business to invest in energy-efficient equipment. Up to now, a missing ingredient has been access to affordable finance to enable business to make those green investments. This new major finance facility – which matches monthly payments to real monthly energy cost savings - will improve business competitiveness, cut carbon and boost the green growth."
James Gearey, CEO from Siemens Financial Services Ltd. commented: "We are delighted to be working with the Carbon Trust, their values very much match our own. Our extensive experience of asset financing and lending to UK businesses and the public sector, combined with our ready access to funding means we are well placed to support the scheme and deliver the associated benefits to its future customers."
Any business wishing to apply to the scheme for energy-efficient equipment finance, or any equipment supplier wishing to offer the scheme to its customers, should visit: www.energyefficiencyfinancing.co.uk
For more information about SFS, contact:
Miu Wing Yim Dahl
Tel : +44 (0)207 402 0510
For more information about the Carbon Trust, contact:
Carbon Trust Press Office
Tel: 00 44 (0) 207 544 3100
Notes to editors:
About Siemens in the UK
Siemens was established in the United Kingdom 168 years ago and now employs around 16,000 people in the UK. Last year's revenues were £4.1 billion. As a leading global engineering and technology services company, Siemens provides innovative solutions to help tackle the world's major challenges, across the key sectors of energy, industry and healthcare. Siemens has offices and factories throughout the UK, with its headquarters in Frimley, Surrey. The company's global headquarters is in Munich, Germany. For more information, visit www.siemens.co.uk
The Siemens cross sector Financial Services (SFS) is an international provider of financial solutions in the business-to-business area. With about 2,000 employees and an international network of financial companies coordinated by Siemens Financial Services GmbH, Munich, SFS supports Siemens as well as non-affiliated companies, focusing on the three sectors of energy, industry and healthcare. SFS finances infrastructure, equipment and working capital and act as a competent manager of financial risks within Siemens. For more information see: www.siemens.com/finance
About the Carbon Trust
The Carbon Trust is a not-for-profit company with the mission to accelerate the move to a low carbon economy, providing specialist support to business and the public sector to help cut carbon emissions, save energy and commercialise low carbon technologies. By stimulating low carbon action we contribute to key UK goals of lower carbon emissions, the development of low carbon businesses, increased energy security and associated jobs.
We help to cut carbon emissions now by
Providing specialist advice and finance to help organisations cut carbon
Setting standards for carbon reduction
We reduce potential future carbon emissions by
Opening markets for low carbon technologies
Leading industry collaborations to commercialise technologies
Investing in early stage low carbon companies
About the Carbon Trust/Siemens Energy Efficient Finance Scheme
It is estimated that the Carbon Trust/Siemens energy-efficient equipment finance scheme will provide around £550 million in funding between 2011 and 2014, based on both organisations' previous experience. However, if financing demand is greater than this estimate, the scheme is capable of delivering higher financing volumes.