Investment will light the way to carbon reduction

22 December 2009

Energy saving street lamps developed by a Yorkshire company could soon be helping the UK meet its carbon emissions targets, thanks to support from angel investors Ewin Woodward Development (EWD).

EWD – members of the Yorkshire Association of Business Angels –  are providing a £300,000 funding package to Sowerby Bridge-based start up, Carbon Reduction Technology (CRT). The company has developed the ‘e-lamp’, an innovative LED street lighting system that uses up to 75 percent less electricity than traditional sodium street lights.

Although other LED lights are on the market, the e-lamp has a unique microprocessor – patented by CRT – which makes the light more efficient. The lamps are also among the few LED lights on the market which meet British standards for use on public roads.

“LED is commonly used on walkways and car parks, but our focus is on street lighting,” explains company co-director William Robson. “We’ve got some trials taking place at the moment with various local authorities, and once we’ve built a track record for the e-lamp system, we’ll be marketing the lights throughout the UK.”

LED not only provides substantial energy savings, it requires much less maintenance than traditional lights and its white light provides better colour production than orange or yellow street lighting, improving the quality of CCTV pictures.

The company is run by brothers William and Alan Robson with colleagues in India who developed the initial technology. The brothers met their investors when they presented at the 2009 Venturefest Yorkshire, a free one-day event that showcases the region’s most inspiring science, technology and knowledge entrepreneurs. CRT took part in the Dragons’ Den style Investment Competition, and Neil Ewin and Mark Woodward from EWD were among the judges.

Neil Ewin said: “CRT came second in the competition, but we were immediately impressed with their energy and commitment. They clearly had a great technology which was very applicable in the current economic conditions. In working with them over the last few months we have started to see a momentum building and we are all very excited for their future prospects.”

The investment by EWD will support expansion of CRT’s current manufacturing facility and the extension of the current e-lamp range. EWD have also been providing CRT with business support as the company transforms from a research and development start up to a full scale manufacturing company.

Organised by Connect Yorkshire in association with the Yorkshire Association of Business Angels and sponsored by The Shepherd Group, the Investment Competition aims to increase the profile of some of the region’s hottest young business prospects.  The 2010 Venturefest takes place at York Racecourse on 10 February 2010.

Ends

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Further information from:

Charlotte Atkinson, Communications & Events Manager, YABA, 01423 810149, admin@yaba.org.uk

Notes to editors:

YABA is a non-profit making introduction service that puts entrepreneurs and companies seeking finance in touch with private investors, known as business angels, looking to invest in start-up, growth stage and turnaround opportunities.

Business angels provide a vital source of funding to fill the equity gap in the high risk, early stages of business. They may invest sums of up to £250,000 but more usually keep within a range of £10,000 to £100,000. In some cases, a group of business angels may come together in a syndicate, particularly in cases where a large amount of finance is sought. Importantly, angels are also able to offer a wealth of business expertise and advice.

YABA also offers companies access to a register of business mentors and non-executive directors drawn from its membership, who have expertise and experience in a wide range of industry sectors and professions.

The Association is sponsored by regional development agency Yorkshire Forward and is a member of the British Business Angel Association.

The Association runs a full events schedule throughout the year, including regular investment forums, at which entrepreneurs pitch their business opportunity and Master Classes for angel members on topics relating to private equity investment. YABA provides investors with secure online access to business opportunities in the region

Associate members are drawn from the professional services sector and include legal, finance and banking representatives.

Further information is available on the YABA website: www.yaba.org.uk