SmartWay sets finance clearinghouse for fuel-saving equipment
May 1, 2008 12:00 PM
The US Environmental Protection Agency's SmartWay Transport Partnership has launched its new web-based finance clearinghouse where buyers of clean trucks and other emissions and fuel-saving technologies can submit one application and have easier access to multiple financial institutions offering reduced-interest loans with flexible terms.
The SmartWay program has consolidated more than 300 private lenders into one network where they can view applications from buyers seeking cleaner and more fuel efficient vehicles and equipment.
“The application is free, simple, and fast,” said the EPA's John Bubbosh. “Once submitted, interested lenders send their offers.”
A voluntary partnership between the government and freight shippers, carriers, and logistics companies for improving fuel efficiency and reducing environmental impacts from freight transport, the SmartWay Transport Partnership establishes incentives for fuel efficiency improvements and greenhouse gas emissions reductions.
By 2012, this initiative aims to reduce between 33 million to 66 million metric tons of carbon dioxide emissions and up to 200,000 tons of nitrogen oxide emissions per year, he said. At the same time, the initiative will help save between 3.3 and 6.6 billion gallons of fuel per year.
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