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August 24, 2011 8:00 AM, EDT

Cascade Sierra Solutions Debuts Equipment Financing Program

Cascade Sierra Solutions, a firm that backs emissions-reduction investments for trucking, has announced a $20 million financing program to back purchases of new equipment.

Cascade Sierra is offering financing backed by funds from private investors and the U.S. Environmental Protection Agency, the company said.

The financing can be used for purchases of either new equipment or replacements for older trucks that will have to be scrapped, Sandor Lau, development director for Cascade Sierra, told Transport Topics.

Lau said the financing program is the first step in a planned expansion that will make $80 million available for equipment purchases.

In addition, he said, the nonprofit group could arrange grants of as much as $45,000 per truck for operators of fleets with 10 or fewer tractors.

Tractors with both 2007 and 2010 model engines can qualify for financing. Trailers also can be financed through the program.

The $20 million includes $18.2 million from private investors and $1.8 million from EPA, he said.