Transformational Year For eLight
20th December 2018
Dec 20th 2018
eLight began the year as Ireland’s largest Light as a Service Business and ended it as the largest in Europe. 2018 was another great year for the Irish business, with scores of projects completed, for businesses of all sizes and all sectors.
2018 began with the unveiling of ‘The Race for SMEs’, a partnership with Bord na Mona. ‘The Race’ is a simple concept which saw eLight install lights in Irish businesses at no cost. The business benefits from up to 80% reduction in lighting costs and eLight benefits through a state funded carbon credit scheme. Over the year, eLight has worked with some great small businesses, installing lights which would ordinarily cost thousands of euro. Among the companies we have worked with on The Race are; Galvin for Men in Tullamore, Edenderry Livestock Mart, Wooden Bridge Hotel, Dalata Hotels, Aughrim Credit Union and over a hundred more small businesses. We have installed thousands of lights, saving businesses tens of thousands of euro.
In addition to our work with smaller businesses, we have completed projects for some of Ireland’s largest businesses. Hibernia REIT, Dalata Group, UCD, Brooks and IRES REIT, have all adopted the eLight LaaS model, making significant savings and driving down costs. We estimate that the installations we have undertaken this year for Ireland’s property management companies will save those companies over €6.7m in the next five years.
During the Summer, eLight Group Holdings Ltd merged with a UK based LED Light as a Service company which has been in operation since 2014. The merger will make eLight Group the largest “Light as a Service” (LaaS) company in Europe with over 600 completed projects, generating over €60m in energy savings for existing clients with eLight. This deal provides the platform for eLight’s future growth and has been transformational.
As the year has drawn to a close, we have begun to enjoy the benefits of our UK expansion. The scale of opportunity in the UK is significant and we have already developed a significant pipeline of activity for early 2019.
2019 is set to be an exciting year for eLight, with a series of developments due in the first weeks of the year.