First Asset Finance offers finance on Hultsteins diesel-free fridges

London, UK: First Asset Finance is providing funding for operators using Hultsteins’ diesel-free systems.

Martin Vodden, director, First Asset Finance. says: “From an environmental standpoint the Euro 6 emissions standard is clearly a good thing, but as yet, there is no such control applicable to a diesel-powered refrigeration unit.

“Combine this with the hike in diesel costs which will hit the sector in April 2022, and it follows that operators throughout the cold chain are turning to manufacturers who can provide an affordable and sustainable alternative to conventional systems.”

Hultsteins makes hydraulic and electric-drive transport refrigeration such as the company’s on-board electric generator, Ecogen. are increasingly seen as the optimum solution.

“Due to Covid-19 cash, more than ever, is king, and at a time when high street banks are particularly risk averse, First Asset Finance can draw on our own cash resources or work with designated banks to help structure finance programmes aligned to assets, which we believe have strong earning potential in the longer term,: Vodden says.

Hultsteins’ Ecogen system is already making its mark in temperature-controlled fleets throughout Europe, says Graham Usher, managing director, Eco Truck Fridge, UK sales agent for Hultsteins.

“Ecogen can be retrofitted easily to any truck with an engine drive PTO and generates a constant 400-volt, 3-phase electrical power to the same standard as the mains supply tol drive any type of conventional diesel fridge with electric standby – only without burning the diesel.”

It will costs as much as £5,000 more to run a typical diesel trailer fridge using taxed diesel. “By effectively switching off the diesel engine, the life expectancy of the existing fridge unit will be greatly extended and subject to the annual amount of running hours, the Ecogen system can expect to see a return on investment in approximately 18 months,”Usher says.

This relatively fast return on investment, combined with Ecogen’s low cost of ownership, enables, First Asset Finance to structure funding with realistic residual values, spread over the long working life of the equipment, Vodden says. “Based on our confidence in the  Ecogen system and the market-proven credentials of Hultsteins we can typically structure a five-year lease arrangement which, because of the relatively high residual value, means the break-even period is enhanced and not all of the capital needs to  be paid back within the term.”

First Asset can, if required, extend the rental period beyond the initial 5 years. “Ecogen looks set to become the default choice for cost conscious and environmentally responsible transporters and First Asset Finance is delighted to be working with Hultsteins and their customers to provide the right funding package to match their individual needs,” Vodder says.

www.faf.co.uk

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