The Big Business Refit campaign, which will run until 31 March 2010, offers businesses interest-free funding to replace old kit.
It follows research by the Carbon Trust that found that British manufacturers are being forced into a "make do and mend" policy on old, inefficient equipment with 60% of companies surveyed saying they could not afford to upgrade.
The campaign has £100m in interest-free funding on offer for loans of between £3,000 and £400,000, which it claimed can be paid back via the energy savings a company makes with new equipment.
Paphitis described the initiative, which also offers guidance on suitable replacements in clinics in London, Birmingham, Manchester and Belfast, as an "unbelievable deal".
KBA UK managing director Christian Knapp said that buying new kit can offer significantly reduced energy costs and lower a company’s emissions.
The loans are intended to focus on purchases such as dryers and evaporations systems, which the Carbon Trust claimed can save around £20,000 a year for a business.
One printer that has already benefited from the Carbon Trust loans is packaging printers Roberts & Mart which took two Carbon Trust loans to replace drying and evaporation systems, a boiler and lighting.
Ben Roberts, sales director, said: "We're saving around £130,000 a year on our energy bills plus around 900 tonnes of CO2."
To be eligible for the loans, companies must have fewer than 250 employees and a turnover of less than €50m (£42m).
Interested businesses should call 01865 885879 or visit www.bigbusinessrefit.co.uk.
