Active Power (NASDAQ: ACPW) said today its CleanSource UPS (uninterruptible power supply) product was qualified for UK Enhanced Capital Allowance Scheme (ECA) for energy saving technologies, enabling UK businesses that purchase the product to benefit from a 100% first year capital allowance on their investment against taxable profits.
CleanSource has met the criteria for admission to the Energy Technology List (ETL), managed by the Carbon Trust on behalf of the UK government.
“Active Power delivers an economically green product to clients by delivering the most energy efficient UPS available on the market that is more predictable and reliable than conventional technologies. Layering on the additional financial benefits from the ECA scheme only deepens the value to the client,” said President and CEO Jim Clishem.
The ECA scheme was introduced by the UK government in 2001 to encourage companies to invest in low carbon energy saving equipment to help the country reach its Kyoto protocol target of reducing emissions by 20%. The scheme consists of the Energy Technology Criteria List, which outlines the energy saving requirements for each technology, and the ETL.
The company was flat at US$0.76 per share in early trade following the release of the announcement.