Two Irish companies have launched a partnership to support the installation of solar and LED lighting systems for outdoor advertising. Customers can thus achieve energy savings and reduce their carbon footprint through a business model that unlocks funds for CAPEX in renewable energy projects.
Solar AdTek is a developer and supplier of innovative solar and LED lighting systems for outdoor advertising companies. Dublin-based Vivid Edge is a climate action impact business. Through this partnership promoted by Enterprise Ireland, Vivid Edge finances 100% of the fully installed project, including materials, work force and ancillary costs, not only in Ireland, but anywhere in the world. Customer beneficiaries pay a monthly service fee once the project is installed, which allows organizations to implement multiple projects with energy efficiency systems with no impact on their budgets due to large initial investments.
Eoin O’Broin, CEO Solar AdTek considers that the Solar AdTek expertise in solar and lighting technologies, combined with the new financing partnership established with Vivid Edge, can bring real savings to customers as well as quality improvement in the outdoor advertising.
Revenues for the outdoor advertising sector have decreased considerably, due to the reduction in number of people in the streets, in public transport centers and airports. At the same time, despite declining revenues, advertising firms have fixed costs of electricity bills. Upgrading of lighting in advertising displays can lead to savings of up to 80%, stemming from the reduction in energy costs and the cost of maintaining the lighting system, is specified in the Solar AdTek press release.
“As service charges don’t apply until energy savings are being made, projects can be self-funding from day one. This is a very smart way to be energy efficient without needing capital,” says Tracy O’Rourke, CEO, Vivid Edge.
Both companies are clients of and supported by Enterprise Ireland, the Irish government organization responsible for the development and growth of Irish enterprises in world markets.