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Irish SME receives £5m investment for sustainable energy assets

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Proven Lighting, a Belfast-based LED Lighting firm now has £5m to go towards Lighting as a Service projects.

Securing investments for small to medium enterprises (SMEs) can be a costly venture in of itself.

Facing extensive checks, long periods of waiting and a general lack of understanding between business-minded financiers and product-focussed engineers, SMEs and energy service companies (ESCOs) have had an uphill battle when supplying energy efficiency measures.

Addressing this pain point was a key aim for the eQuad platform, launched commercially in May 2018.

Joule Assets Europe frontiered the Sustainable Energy Asset Evaluation and Optimisation Framework (SEAF) Project, which was a two-year project funded by the European Union under the H2020 Framework focusing on growing the energy services sector.

This resulted in eQuad, an online platform that automates the pre-finance phase of energy efficiency projects.

Through eQuad, Joule Assets enabled Proven Lighting, a Belfast-based LED Lighting firm, to successfully secure a £5 million deal with a regional financial fund, allowing them to launch their Lighting as a Service model through Lumenstream – a Belfast-based company, whose commercial presence spans the UK and Ireland.

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