Sustainability with Capitalflow
Capitalflow Group has secured €10m from the new low-cost Energy Efficiency Loan Scheme (EELS) from the Strategic Banking Corporation of Ireland (SBCI). The company states that this funding will enable Irish small and medium-sized enterprises (SMEs) to invest in energy efficiency financing projects, helping them to transition to sustainable energy. Businesses can apply for funding until December 31, 2023.
According to Capitalflow, research shows that Irish SMEs invest just 6% of their budget in energy efficiency, one of the lowest rates in Europe. The lack of competitive funding up to now has been a major roadblock for the Irish SME sector’s transition to a lower carbon emission economy.
By obtaining €10m, Capitalflow states that it can directly leverage a positive impact on the climate, and offer SMEs easy access to energy efficiency financing projects. Ronan Horgan, CEO of Capitalflow, said: “We’re delighted to be partnering with the SBCI once again in supporting the Energy Efficiency Loans Scheme and the move towards green finance. By investing now, helped by the Energy Efficiency Loan Scheme, businesses can help the environment and reduce their costs in the medium to long term”.
June Butler, CEO of the SBCI, said: “I welcome the addition of Capitalflow as a partner for the SBCI Energy Efficiency Loan Scheme. Capitalflow’s participation will assist SMEs and farmers in accessing low-cost flexible finance for investment in energy-efficient equipment as they respond to the ongoing increase in energy costs. This Scheme is our first dedicated climate action-related product and has been specifically designed to help Irish businesses to improve their sustainability, cut their energy bills and reduce their carbon emissions by investing in energy-saving measures”.