Irish firm Elight shines brightly as sales treble to €4m
The Irish Times | 21.12.2017
Firm offers a ‘light as a service’ model for installing LED lighting in buildings
Elight, a Dublin-based company that installs and manages energy-efficient LED lighting solutions to the commercial sector, saw sales treble to €4 million last year, up from €1.l2 million a year earlier.
The company, which was established by EY Entrepreneur of the Year 2017 finalist Ian McKenna five years ago, provides a “light as a service” model in partnership with the likes of Philips and Actavo that sees it paying the upfront costs for installing LED lighting.
Elight, which reported a 28 per cent rise in profits to just under €1 million for last year, said it completed more than 250 lighting upgrade projects last year for clients that include listed hotel chain Dalata, Euro Car Parks, and Hibernia Reit.
In total, Elight installed more than 150,000 lighting products last year in a move that it said led to cost savings of €5.5 million and a 75GW energy saving for clients.
“The Elight proposition is a simple one: by changing the way businesses look at lighting they can make significant savings on their bottom line,” said Mr McKenna. “We have proven this model works, delivering savings of up to 65 per cent on lighting costs for some of Ireland’s biggest companies.”
Elight has grown by more than 100 per cent each year since it was established in 2012. The firm, which has sales offices in Cork and Dundalk, as well as a warehouse and operations centre in Glasnevin, has grown from just three people to more than 21 over the past five years.
The latest accounts show net assets increased to €1.1 million last year.