Country: Ireland
Category: Energy
Name: ‘Urban Volt’
Project Aim: built a business model which permanently reduces costs and energy consumption for businesses
Awards: Startup Europe Awards
Why you decided to start with the company?
At UrbanVolt we were fed up waiting for change to happen.
The top down approach to reducing energy consumption and improving our environment wasn’t working – so we decided to facilitate the change from the bottom up.
But we realised that truly sustainable energy is only possible when it is backed by sustainable finance, so we built a business model which permanently reduces costs and energy consumption for businesses.
What do you create?
UrbanVolt has created the first truly sustainable business model which is repeatable, scalable, and benefits businesses of all sizes.
So how do we do that? By offering Light as a Service.
The quickest and most permanent way to reduce energy consumption and cost is via LED lighting. However the problem to date has been the capital investment required in order to purchase LED technology for a lighting retrofit. Few businesses have tens of thousands of euro – or the time – needed for these projects
What are the changes for the industry?
At UrbanVolt we have removed all the barriers – financial, technical and operational.
Instead of focusing on a transactional sale – and drowning clients in technical data – we offer a service. We invest in upgrading the lighting systems of industrial premises to LED lighting for no upfront cost. We make all the investment while our clients enjoy reduced energy consumption, reduced costs, an improved working environment, and happier staff. We are paid a share of the savings generated by the LED technology while our clients enjoy all the benefits – it truly is a win/win. At the end of the five year agreement our clients keep the lights and all the savings. Along the way we also project manage the entire installation and maintain the light fittings for five years under our unique ‘no haggle’ warranty. What’s not to like about that?
Because we offer this service to businesses of all sizes and because our business model is scalable and repeatable, the compound effect of our work is enormous.
How does the industry going to change?
Imagine if every business could immediately cut their operating costs, allowing them to reinvest it in their core business? This would allow them to create new employment and grow their company. And the positive impact UrbanVolt and our clients are making on the environment will be transformational as more and more businesses sign up for our service.
How is the busiennes growing?
In our first year of business we have become the biggest lighting company in Ireland and we will save those first clients €20million in energy costs. We will expand internationally in 2017, reducing energy costs and consumption across Europe and further afield.
But there is no need to believe what we say about our exceptional business and service, you only need to listen to our clients: https://www.youtube.com/watch?v=SxVldlYbkQs
What does this Startup Europe Award mean to us? The recognition of Startup Europe is an incredible honour as it proves that our innovative model is being recognised across Europe. We believe we can deliver enormous value across Europe through our service – and not just monetary value. The positive environmental impact we are helping deliver will be felt for generations to come.