Friday, February 24, 2012 – 2:29 PM
By Jeff Sargeant
Prince George, B.C.
A $2 million investment by the province will help the Carbon Offset Aggregation Cooperative get an emmissions reduction plan off the ground.
Environment Minister Terry Lake made the announcement in Prince George this morning.
The money aims to act as a seed fund for the Cooperative’s diesel retrofit program.
COAC CEO George Steadeford says the money will allow the Cooperative to provide low-interest loans for member businesses to undergo efficiency upgrades on vehicles and heavy machinery.
“We can now finance people, we can help the smaller companies that may have more of a challenge to go and get that financing on the spot,” said Steadeford.
Steadeford says it also fills a funding gap before the Cooperative can have a steady stream of revenue from member businesses who take part in their programs.
The $2 million will enable about 100 retrofits to take place each month. That rate of conversion to more efficient machinery is expected to reduce over 13,000 tonnes of greenhouse gas emmissions over the next three years.
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