Irish start-up UrbanVolt is set to start supplying solar energy to businesses at prices up to 30pc lower than traditional providers.
Dublin clean energy company UrbanVolt is set to start supplying clean, solar-generated electricity directly to businesses. It will finance and install solar panels on the rooftops of its customers and sell the generated electricity to them. The team, led by Kevin Maughan, Graham Deane and Declan Barrett, said it plans to charge clients up to 30pc less than traditional electricity suppliers.
According to UrbanVolt, traditional providers typically charge between 15 and 20 cent per kilowatt hour. UrbanVolt said it expects to charge companies as little as 10 cent for the same. It will also guarantee the same price for 25 years, which it said will “protect businesses against rising energy costs for decades to come”.
UrbanVolt was founded by Maughan, Deane and Barrett in 2015 at Dublin City University’s Alpha innovation campus. It recently raised €7m in funding under the Irish Strategic Investment Fund and its clients to date include Pfizer, Zimmer Biomet, Syncreon and Heineken.
The start-up won Google’s Adopt a Startup competition at the end of 2018, nabbing the top prize ahead of Nasal Medical, Dashmote and Trustap. UrbanVolt’s marketing manager at the time, Anne James, said that the company had saved the emissions equivalent of taking 9,000 cars off the road annually with its first 200 clients.
Maughan, who is now the company’s CEO, commented on the clean energy roll out: “This will save businesses money, but the real value is that it enables businesses to take direct action to reduce their carbon footprint.
“Given how frustrated businesses are waiting for the energy companies to get moving on the climate agenda, we believe it will have huge appeal. This is how you can make rapid progress on rolling out green, clean energy and the time is right to begin doing it in Ireland.
“Essentially, UrbanVolt now offers affordable, clean energy on both sides of our customers’ roofs. Businesses in Ireland have been overcharged and undervalued by the traditional energy companies for too long, and we are proud to be driving real change in the market.” Link to Original Article