Q&A Energy Works
Saving
rendering. Furthermore, retailers will be able to lower air conditioning costs as LEDs do not generate the quantity of heat that traditional retail store lighting does.
Energy
We talk to Harvey Sinclair, partner at Energy Works about how retailers can save money, what we might see in the future and the concept behind this fantastic idea!
1. When did you launch Energy Works and what was the inspiration behind its inception?
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As Director of Lietcorp International, a leading UK manufacturer of LED lighting, I encountered a number of companies wanting to invest in our Clean Technology products that were held back by upfront purchase costs. We recognised that the financial investment required for new technology was a barrier to acquiring it, and, as a solution, formed Energy Works PLC this August. We wanted to create a business that could bridge the funding gap between switching to LED technology and covering the upfront costs. By providing fully financed retrofit installations and with no outlay required, Energy Works makes this possible. With no CAPEX costs, retailers are guaranteed savings, and Energy Works simply takes a share of the energy savings made over a typical period of ten years.
2. The concept behind Energy Works is fascinating; how can this benefit retailers (both independents and multiples)? Any business with non‐LED lighting can benefit from switching to LEDs because the electricity consumption is lower and there are no maintenance costs. LEDs have a L70 (life span) of up to 120,000 hours, meaning some will last in excess of ten years without the need to change bulbs or any degradation in quality.
Our specialist retail spot‐light and down‐ lighting technology guarantees to equal or better existing lighting. It’s fully dimmable, flicker free and has excellent colour
www.a1retailmagazine.com
3. How quickly could a retailer expect to see savings?
Initially we conduct a full property evaluation and site survey to create an individual cost savings assessment for the retailer. Once completed, we can guarantee installation within 90 days and immediate profit on savings. Typically, the energy savings are between 30 and 50 per cent of the retailer’s current energy costs.
4. What does the future hold for Energy Works?
Our initial goal is to deploy £100 million of project finance over the next three years to qualifying companies and organisations. The products we use are typically aimed at companies with current yearly lighting costs of over £100,000 as well as organisations that have their lights on for more than 12 hours a day. In each project we’ll be looking to invest between £100,000 and £10 million. Our products come exclusively from Lietcorp, a British light designer and manufacturer that specialises in innovative LED technologies for commercial lighting applications. By working with Lietcorp, we can make a guarantee to our clients that we’ll be providing Light as a Service by using cutting‐edge technology which improves quality of lighting and reduces costs. We are already attracting clients across Europe, EMEA and Asia, so I see expanding the business globally as the next natural progression.
Contact Energy Works +44 (0) 203 397 1700
www.energyworksplc.com
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