Maritime Reporter reports settlement money will be used for tug and ferry engine upgrades.
“The $2.9 billion settlement fund Volkswagen agreed to capitalize for distribution across all 50 states, tribal lands and Puerto Rico as an opportunity for maritime companies to reduce their NOx emissions.
Under the rules of the Volkswagen Mitigation Trust Fund tug, tow and ferry owners that qualify can apply for grants to significantly reduce the cost of their engine upgrades. The top 10 states receiving VW settlement dollars include:
- California – $424 Million
- Texas – $191.9 Million
- Florida – $153.2 Million
- New York – $117.4 Million
- Pennsylvania – $110.7 Million
- Washington – 103.9 Million
- Illinois – $97.7 Million
- Virginia – $87.6 Million
- North Carolina – $ 87.2 Million
- Ohio – $71.4 Million
States receive 1/3 of their total funding every three years and must expend all revenue by the end of ten years. Contact Rich Mueller rmueller@NETSCo.us or Jan Flores jflores@NETSCo.us at NETSCo for assistance with your emissions reduction strategy and the application for a grant for your maritime company with the VW Trust Fund.
Read the complete article Maritime to get Biggest Bang for VW Settlement Bucks