SAN FRANCISCO, CA--(Marketwired - Oct 30, 2014) - VERGE SAN FRANCISCO -- Enlighted Inc. today announced the launch of its Global Energy Optimization (GEO) program, the company's first-to-market Energy Savings-as-a-Service Model for LED lighting and controls.
Enlighted's GEO program enables companies to accomplish what they historically have not been able to for lack of budget, staff, and project return -- begin saving immediately on energy costs while assuming no install costs or project risk. Through the GEO program, Enlighted provides customers with energy-saving improvements realized by the company's leading advanced lighting control system and LEDs. The client then pays Enlighted a utility rate for the saved electricity lower than they pay their local utility provider, which ensures savings without the assumption of performance risk.
Currently the offering has been implemented in 228 customer sites, including Fortune 500 retailers and Global telecommunication companies, in 30 states, with 19.4 M square feet installed to date.
"The GEO business model has demonstrated the immense value that energy-savings across a national building platform can offer," said Joe Costello, Enlighted's Chairman and CEO. "Business-model innovation is just as crucial as our technological innovation for addressing the massive global energy problems we face. We are thrilled to have landed on the mechanism that will quickly diffuse this technology across a company's global real estate portfolio."
Under the program, there is a guaranteed savings of 10-20% on energy costs. In addition to this, there are other benefits to Enlighted's systems which are not as measurable but equally valuable, such as productivity gains and maintenance savings. Key building types include offices, warehouses, parking garages and data centers.
"Enlighted's Saved Power Purchase Agreement rewrites the way energy-efficient, connected lighting retrofits will get done," said Brian Modoff, Managing Director at Deutsche Bank Securities. "It's the right financing vehicle to reach mass scale."
Enlighted provides people-smart energy efficiency solutions for commercial environments. Its first application -- advanced lighting control, built on the Enlighted sensor and analytics platform -- saves companies between 50% and 70% in energy costs while tuning individual workspaces for the comfort and efficiency of the people who work in them. Additional applications ranging from occupancy and real estate analysis, to HVAC controls to security services are based on additional data that can be observed and aggregated on the Enlighted Application. For more, visit www.enlightedinc.com.