Heaslip-backed Irish start-up UrbanVolt signs up to global LED challenge
An Irish start-up that has Jamie Heaslip amongst its investors has become the first company here to sign up to the Global Lighting Challenge.
The challenge was launched at the UN Climate Conference in Paris last year with the aim of replacing 10 billion lights around the world with LED lights, which are more efficient.
Irish firm UrbanVolt has joined the challenge here and is committed to replacing one million lights across Irish businesses with no upfront costs.
UrbanVolt makes the upfront investment with the client signing up for a five year partnership agreement. At the end of the deal the client owns the equipment with UrbanVolt taking a slice of the energy bill savings in the interim.
UrbanVolt investor Jamie Healsip said he believes everyone has a responsibility for sustainability.
"There has been a top down approach and governments have tried hard to make it work, but everyone’s got be part of it. Bottom up has got to come into play and we all have to do our part. I think that’s why SMEs can have a massive compounding effect on sustainability and that’s why UrbanVolt are looking to help those businesses," Mr Healsip said.
The company is looking to secure 150 clients and reduce their energy bill in the process as part of the challenge.
Kevin Maughan, CEO with UrbanVolt, said: “Our unique business model has a number of benefits because we make all the upfront investment, project manage the installation and maintain our LED technology. Our clients get the benefit of improved lighting and they also get significantly reduced bills. It’s a win-win situation and we are committed to making sustainability easy."