Dublin LED firm signs €30m financing deal

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Co-founded by former Merrill Lynch banker Kevin Maughan, Urban Volt invests its capital installing energy-efficient lighting for businesses free of charge, with an agreement to split the energy savings between both parties over five years.
The deal with Susi will see the Irish company bundle groups of its clients into portfolios, with each bundle representing an installation outlay by Urban Volt of €1million. Susi will then take equity stakes in the bundles, freeing up cash for Urban Volt.

The company began trading in April 2015 and has signed up for about 100 projects so far. The focus is currently very much on the Irish market, although the company is also assessing opportunities in the German and Austrian markets. Urban Volt says most customers will record a reduction in their lighting costs of at least 50%. The company targets small and medium enterprises for its lighting solutions, as well as such as manufacturing plants, warehouses and car parks.

For more information on Urban Volt, telephone (RoI/NI) 00353 (0)1 699 3340 or visit www.urbanvolt.com