Fledgling Irish company UrbanVolt is planning to invest €30 million over the next 12 months to roll out energy efficient lighting solutions for SMEs.
UrbanVolt, which began trading in April, has signed a three-year deal with Bord Gáis Energy to become the preferred lighting supplier to its 30,000 commercial customers. Bord Gáis Energy, which is owned by UK group Centrica, will help fund the installation of LED lights with the aim of reducing energy bills for SMEs.
UrbanVolt retrofits the lighting at no cost to the SME with the two parties taking an equal share of the savings achieved over a five-year period. Most customers will see a 50 per cent reduction in lighting energy costs, after its fee, it claims.