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LED lighting manufacturer utilises servitization

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Service-based models are increasingly being integrated into businesses, as manufacturers look to retain and strengthen customer relationships. Lighting manufacturer Lumenstream are hoping to “disrupt” the industry with their servitized approach.

The Belfast-based start-up is providing customers with fully installed and maintained LED lighting, for no upfront cost.

Benefits to this service-based lighting approach include cost savings and convenience to customers – image courtesy of Depositphotos.
Benefits to this service-based lighting approach include cost savings and convenience to customers – image courtesy of Depositphotos.
According to the company’s website, they are the first lighting manufacturer to offer a complete solution and have “disrupted the lighting industry in the greatest possible way.”

Set up just over a year ago, Lumenstream’s service is offered with no initial cost to the customer; instead, the LED technology is paid for based on a share of energy savings achieved over five years.

As electricity prices continue to increase year-on-year, more businesses appear to be turning to LED lighting, which can reportedly offer a 60% reduction in energy costs.

Benefits to this service-based lighting approach include cost savings and convenience to customers, with their customer base ranging from manufacturing plants to warehouses, car parks, large offices and public sector buildings.

Founded by father and son, Adrian and Alistair Brown, the business has just secured their first major contract worth £4.8m with a major UK energy company, Argus Energy Management, to provide LED lighting. Argus specialise in providing energy efficiency measures across Britain.

Service-based models are increasing and are becoming more prominent in sectors across the board including robotics, plastics, food waste and more.

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