Led · Equity · Jul 2018

UrbanVolt operates a Solar-as-a-Service model that finances, installs, and maintains solar panels for business customers, eliminating the need for upfront capital expenditure. Customers purchase solar-generated electricity at discounts to grid rates and can lock in their electricity rate for up to 30 years, protecting them from volatile energy costs. Founded in Dublin in 2015 by Kevin Maughan (CEO), Declan Barrett (Chief Commercial Officer) and Graham Deane (Chief Operating Officer), the company has operations in Ireland, the UK and eight continental European markets. UrbanVolt serves 150 customers, including Heineken, Pfizer, Zimmer Biomet and Syncreon. The company raised £22.3M from Verdane and intends to use the funds to facilitate its UK and European expansion. Its offering targets businesses seeking long-term price stability and reduced emissions without capital outlay. UrbanVolt delivers Light as a Service (LaaS®) to corporate clients, upgrading commercial buildings to LED lighting so customers save on lighting costs while reducing carbon emissions. Founded in Ireland in 2015 and led by CEO Kevin Maughan, the company serves clients in Ireland, the UK, Continental Europe and across the United States. UrbanVolt has signed 45 multinational companies as LaaS® clients, including Pfizer, Zimmer Biomet, Cargotec and Pipelife. The company’s business model requires no upfront capital from customers and is being expanded internationally through its multinational client base. The recent funding is intended to support delivery of energy-efficiency projects across the US. No revenue or profitability figures are provided in the article. UrbanVolt, founded in 2015 by Kevin Maughan, Graham Deane and Declan Barrett, is based in Dublin, Ireland. The company has developed a Light as a Service model that funds, fits and maintains LED lighting solutions for large commercial properties such as manufacturing plants, warehouses, car parks and large offices. Under this model UrbanVolt finances installations and shares the money saved by customers as a result. In 2016 UrbanVolt secured a €30m funding line provided by Susi Partners. In conjunction with the agreement, the Susi Energy Efficiency Fund will co-invest with UrbanVolt in energy-efficiency projects being installed in SMEs across the country.