The investment will be used to deliver energy efficiency projects across the US.
Established in Ireland in 2015 by CEO Kevin Maughan, UrbanVolt delivers Light as a Service (LaaS®) to corporate clients in Ireland, UK, Continental Europe and across the United States. It upgrades commercial buildings to LED lighting for no upfront capital cost, enabling companies to save on their lighting costs while reducing their carbon emissions.
The expansion is being driven by the large number of US multinationals in Ireland who are UrbanVolt clients, and are seeking to bring the business model of the company to their sites around the world. To date 45 multinational companies have signed up as UrbanVolt LaaS® clients, including Pfizer, Zimmer Biomet, Cargotec and Pipelife.
Low Carbon is a London based, privately-owned UK company, which specialises in renewable energy investment. The firm develops and invests in renewable energy projects and technologies, while also managing assets on its balance sheet for listed and unlisted third parties.