ANZ and the Clean Energy Finance Corporation (CEFC) have expanded their longstanding partnership with an additional $150 million to help more Australian small and medium sized businesses access discounted finance for energy efficient equipment and technology.
The funding forms part of the ANZ Energy Efficient Asset Finance Program to support eligible businesses investing in assets including electric vehicles, rooftop solar, battery storage, energy efficient equipment and recycling technology, helping to reduce operating costs while improving energy performance.
Under the program, ANZ and the CEFC each contribute 0.4 per cent per annum towards a total finance discount of 0.8 per cent per annum, making it easier for businesses to invest in equipment to help improve productivity and lessen exposure to rising energy costs.
ANZ MD Product and Specialist Sales, Business & Private Bank, John Campbell, said Australian businesses were increasingly looking for practical ways to improve efficiency while managing ongoing cost pressures.
“Australian businesses are constantly looking for ways to improve productivity and manage costs. Whether it’s installing solar panels, upgrading equipment or transitioning a vehicle fleet, these investments can deliver meaningful savings over time, but the upfront cost can be a barrier. By making finance more affordable, we’re helping businesses invest with confidence in assets that can strengthen their operations today while positioning them for future growth.
“Over the past nine years, our partnership with the CEFC has helped businesses invest in the equipment and technology they need to grow and adapt. This additional funding will allow even more Australian businesses to access the assets they need to remain competitive,” Mr Campbell concluded.
Since the partnership began in 2017, ANZ and the CEFC have supported more than 1,600 Australian businesses with over $444 million in discounted asset finance. In the last financial year alone, more than $90 million in finance was provided to customers through the program. This latest commitment brings the CEFC’s total investment in the ANZ Energy Efficient Asset Finance Program to $600 million.
CEFC Executive Director Richard Lovell said businesses were looking for practical solutions that delivered both economic and environmental benefits.
“SMEs are looking for practical ways to manage rising costs while maintaining productivity. This program helps bring forward investment in equipment that can reduce energy use and improve efficiency, while lowering financing costs at a time when access to affordable capital matters.”
Minister for Climate Change and Energy, Chris Bowen, said Australian businesses are always looking for practical ways to reduce costs and improve productivity and investing in more energy efficient equipment helps them do both.
“Whether it’s installing rooftop solar, buying an electric vehicle, adding battery storage or upgrading equipment, businesses know that reliable renewable energy and electrification is the key to lowering their energy costs.
“The upfront cost can often be the biggest hurdle. This partnership helps businesses overcome that barrier by making finance more affordable so they can invest sooner and start saving sooner.
“Government and the private sector working together can unlock investment that cuts energy costs, boosts productivity and supports Australian businesses to grow,” Minister Bowen said.
Rhett Davis, General Manager at Lago Smallgoods, a Victorian based manufacturer and distributor of processed meats across Australia, said the discounted finance enabled their business to enter new markets, increase productivity and find more sustainable solutions.
“As a family business, every major investment needs to deliver real value. The support we received through ANZ and the CEFC helped us invest in energy-efficient equipment including a high-performance slicing machine, robot picker and packing machines that have transformed our operations.
“We’ve seen significant productivity gains, increased our production capacity by around 30 per cent and reduced costs by about 20 per cent. These improvements are enabling us to grow the business while being much more energy efficient, and in turn, much more competitive,” concluded Mr Davis.
Joel Brill, Co-Owner and Operator at leading Tasmanian timber manufacturer, Stronach Timber, said access to ANZ’s discounted loan helped the business invest in new technology sooner, improving efficiency and reducing waste.
“The discounted loan made it easier for us to invest in a new timber processing line equipped with x-ray technology that optimises timber grades and lengths and delivers more value out of every piece we process. For a business our size, the upfront cost of this type of equipment is significant, so having access to more affordable finance gave us the confidence to move ahead with the purchase sooner.
“Since installing the new line, we’ve reduced waste by around 25 per cent while improving efficiency across our operation. It’s helped us increase productivity, lower costs and make better use of our raw materials, which is a win for both our business our customers and the environment,” concluded Mr Brill.
Businesses seeking more information are encouraged to speak with their ANZ Relationship Manager as soon as possible. Eligibility criteria apply.
