How companies are achieving sustainable energy use
Sustainability has become much more than just a buzzword for business. Increasingly, environmentally conscious consumers are driving retailers to demonstrate their green credentials on the shelves and in their business models. Simultaneously, shareholder pressure is pushing the issue to the very top of corporate agendas where environmental, social and governance (ESG) is no longer a mere afterthought tucked in at the back of the annual report.
Light as a Service
The light as a service (LaaS) model is growing strongly in popularity. Former Irish Times Innovation Awards finalist UrbanVolt replaces lights in commercial buildings with LED substitutes with no upfront costs to the client, and then it maintains them for up to 10 years. The company generates income by charging clients a percentage of the savings on their lower energy bills as a service fee for the first five years of the contract.
In an indication of the growth potential of this area, UrbanVolt secured €55 million in debt financing last year from UK renewable energy investment firm Low Carbon. This was in addition to the €30 million funding agreement it had arranged with Swiss private equity firm Susi Partners two years earlier.
By Barry McCall for the Irish Times, 9 May 2019. Read the full article >