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Greenprint has introduced a software and a font to tackle exactly this problem. The new font, known as EverGreen, is designed such that 20% more words can fit on each printed page while the text still remain readable.
The EverGreen font can be used for printing web pages or even Office documents which typically use the Arial, Times New Roman or Helvetica.
Next in line is the GreenPrint software, which is more like HP Smart Print add-on for IE, but automatic.
When you print a web page, GreenPrint software analyzes each page for waste material like URLs, sidebars, banner ad graphics, borders, logos, almost empty pages and so on. You can also decide what portions of the web page get printed. The software can either output to paper or to a PDF file.
GreenPrint software is a unique approach to tackle the growing problem but it costs around $35 and is more targeted for the corporate sector. If you are looking for a $0 solution, check these tips on reducing printings costs of Office documents and web pages.