Northern Irish energy start-up LUMENSTREAM secures £4.8m contract to roll out LED lighting as a service.
Belfast based energy start-up LUMENSTREAM has secured a £4.8m contract with ARGUS ENERGY MANAGEMENT, a company specialising in providing energy efficiency measures across the UK and backed by INGENIOUS GROUP.
LUMENSTREAM and ARGUS ENERGY MANAGEMENT are providing “LED lighting as a service”, where LED lighting solutions are installed and maintained at commercial properties (such as manufacturing plants, warehouses, car parks or large offices) as well as public sector buildings. It is expected that most customers will achieve a reduction in their lighting energy costs of at least 60%. With electricity prices continuing to increase year on year, installing LED lighting helps businesses to keep their costs under control.
LUMENSTREAM, founded by father and son duo Adrian & Alistair Brown, provides installation and management services to upgrade commercial facilities to energy efficient LED technology at no upfront cost to the building owner. The LED technology is paid for based on a share of energy savings achieved over 5 years.
LUMENSTREAM director Alistair Brown said:
“We see this business model as a game changer in the local energy market. With no upfront cost LED lighting as a service can reduce the electricity bills for almost any company. We are confident that this service will assist in accelerating the switch to a more sustainable business sector.”
ARGUS ENERGY MANAGEMENT director Guy Ranawake said:
“We are excited to work with LUMENSTREAM to provide LED lighting as a service for businesses around the UK. This model offers a unique opportunity to not only ‘go green’ but also to reduce operating expenses, making both economic and environmental sense to businesses.”