Irish-founded lighting company to float in London
Irish-founded energy efficient industrial lighting company eLight is set to float on London’s Alternative Investment Market (AIM) in the new year.
The business plans to float as eEnergy Group following a reverse takeover of AIM-listed firm Alexander Mining, in a bid to increase its business in the UK.
The group, led by CEO and technology entrepreneur Harvey Sinclair, has already raised £2m (€2.3m) from investors to fund its growth plans. The company plans to grow organically and through acquisitions and to enter new markets.
It already counts the likes of the Dalata Hotel Group, I-Res Reit, Euro Car Parks, and UCD among its clients.
In the 12 months to the end of last June — the company’s first full year of trading — eLight secured contracts worth a combined €7.4m and generated revenues of €4.5m.
The group was founded by Irish businessman Ian McKenna and is a leading player in the £25bn (€29bn) Energy Efficiency-as-a- Service market, which is expected to double in the next five years.
The company helps businesses and schools switch to LED lighting for a fixed monthly service fee, avoiding any upfront payments.
Its strategy is to develop eEnergy as a broader energy services company and acquire other businesses in the energy management sector.
“Our Energy Efficiency-as-a-Service, helps organisations cut their carbon emissions by up to 80% and save money from day one with no upfront costs,” said Mr Sinclair.
