Future’s bright for Belfast cleantech company after signing agreement for £5m

Belfast cleanTech company Lumenstream has signed a framework agreement for financing £5 million of pipeline for future projects with German investment and asset development company Aquila Capital.
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Lumenstream and Aquila Capital share a common goal to contribute to the global energy transition.

Lumenstream offers an innovative ‘pay as you save’ platform it calls LED Lighting as a service to some of the world’s largest energy-consuming businesses. This new bespoke funding deal will activate the delivery of its growing pipeline of commercial contracts.

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The company’s clients already include global organisations such as SIEMENS and CIMC Group.

Alistair Brown, chief executive officer at LumenstreamAlistair Brown, chief executive officer at Lumenstream
Alistair Brown, chief executive officer at Lumenstream

Following its launch in 2019, Lumenstream upgrades commercial buildings to LED lighting with sensor controls for no upfront capital cost. This enables companies to save up to 85% on their lighting costs while dramatically reducing their carbon emissions and removing maintenance requirements for the contract duration.

A fraction of the energy saving is then paid to Lumenstream as a monthly subscription fee for the initial five years, meaning its customers generate positive net cash flow immediately following project upgrade.

Aquila Capital is a sustainable investment management and asset development company, headquartered in Hamburg, Germany, that successfully launched the Aquila Energy Efficiency Trust PLC on the London Stock Exchange in June 2021.

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Chief executive officer for Lumenstream, Alistair Brown, said: “Aquila Capital is a leading infrastructure investor in the energy efficiency and renewable energy space. Its track record of investing in contemporary business models is second to none, and we view it as the ideal long-term partner for achieving Lumenstream’s plans for growth.”

Alex Betts, a senior investment manager at Aquila Capital added: “We are delighted to be supporting Lumenstream’s projects. Improving the energy efficiency of lighting is a key area to reduce primary energy consumption, offering economic savings and CO2 reductions for commercial businesses in the UK. This agreement with Lumenstream represents our first energy efficiency investment in the UK, a market we are keen to establish our presence in. We plan to deploy substantial capital in UK in line with our Energy Efficiency Trust’s investment strategy.”

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