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UrbanVolt short listed for Finance for the Future Awards 2017

UrbanVolt short listed for Finance for the Future Awards 2017

An Irish company that makes money by cutting its business clients' lighting bills has been short listed for the Finance for the Future Awards.

UrbanVolt, which makes all the upfront investment in LED lights in commercial buildings, then benefits from a proportion of the savings companies make from using LED lighting over five years, was short listed in the Start-up and growing enterprises category.

The category recognises businesses with a turnover of less than ÂŁ100m (€110m) or fewer than 1,000 employees.

UrbanVolt's Light as a Service delivers LED upgrades for commercial premises for zero capex, while also permanently reducing their opex.

"UrbanVolt is proud that our business model is continuing to receive international recognition from prestigious financial organisations such as Deloitte," Graham Deane, co-founder and COO of UrbanVolt, said.

"The UrbanVolt community now includes hundreds of companies who are seeing the monetary advantage of energy efficiency delivered via our unique business model," he continued.

The awards, which are championed by ICAEW and A4S in partnership with Deloitte, highlight good business practice by recognising the role of finance in helping to embed sustainability into organisations’ decision making. Richard Spencer, head of sustainability at ICAEW, said.

The finalists have made the short list because of their ability to build a sustainable organisation, and keep sustainability at the heart of their operations.

Now in its sixth year, the awards ceremony will take place on 12 October 2017.

In the latter half of 2016 UrbanVolt signed a €30m funding deal with SUSI Energy Efficiency Fund, a private-sector investment fund that specialises in financing energy efficiency projects in Europe, to roll out its services.

The company founded in 2015 by former Merrill Lynch corporate financier Kevin Maughan together with business partners Graham Deane and Declan Barrett.