Dimmable lighting specialist eyes energy saving rebate

Lumenergi attracts $7.5m investment round to help take lighting management system to market

US-based lighting system start up Lumenergi last week secured a $7.5m investment round to help fund the development of its sales and marketing activities as it seeks to take its intelligent light dimming technology to market.

Lumenergi's lighting management system combines software with so-called Dimming Electronic Ballast (DEB) technology, which allows firms to automatically dim fluorescent lights at certain points during the day. The company said the system allows firms to cut energy consumption from lights at times of peak energy demand during they day and also adjust lighting levels throughout the day based on the amount of daylight entering a building.

The company estimates the system will reduce lighting energy costs by up to 70 per cent and that the DEBs will deliver a return on investment within approximately two years.

Investment company Low Carbon Accelerator (LCA) announced it has invested $1.6m in the company and committed a further $2.4m "subject to the achievement of certain performance milestones". Meanwhile, US venture capital firm Noventi has agreed to invest alongside LCA taking the total funding round to $7.5m.

Mark Shorrock of Low Carbon Accelerator said that growing concerns over energy costs coupled with the technology's ability to be implemented immediately with no changes to existing lighting infrastructure should result in significant sales growth for the company over the next three to five years.

He added that the system would prove particularly attractive in the US where energy suppliers are increasingly offering corporate customers big rebates on their bills if they cut their energy use at peak times and take pressure off the grid.

"If you roll Lumenergi's tool out across multiple buildings you can offer big packages of savings that will be of interest to utilities," said Shorrock. "As increasing demand is put on the grid at popular times of day, by conserving energy, companies could take advantage of rebates provided by electricity providers."