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Future Energy Solutions lands $40 million contract

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Future Energy Solutions (FES) is a green technology and manufacturing company in Hollywood Florida, specializing in LED (light-emitting diodes) technologies. LEDs are devices that produce visible light. They are considered more efficient, durable, versatile, longer lasting and more cost effective than traditional incandescent or fluorescent lights.

FES has announced the signing of its largest contract; a $40 million agreement to install over 60,000 LED lights in 149 multi-floor parking garages in the United Kingdom (UK).

The project will effectively re-light 45,000 car parking spaces and save more than 65 percent on electricity cost while keeping the garages brighter for those parking their cars. In an unusual financing agreement, the project is being financed through the savings generated on electric bills with no up-front cost for the garage operator, National Car Parks Limited (NCP).

Anthony Lyons, CEO of FES, said, “There are huge wins on a multitude of levels in this project. The deal has enabled FES to deliver to NCP a lighting replacement scheme across a vast section of their car parking portfolio, generating significant savings in energy for the client of around 70 percent and a reduction in related costs. Most importantly of all, the sites being retrofitted by FES will be brilliantly enhancing safety and security for all users, making the environment within the car parks more inviting.”

Jo Cooper, CEO of NCP said, “NCP has been seeking a partner in the energy contracting market to support and deliver a wholesale upgrade of our lighting systems across the multi-story car park portfolio. FES has tailored a deal for us which is off balance sheet, requires no up-front investment, dramatically reduces our operational cost for an extended period of time, and reduces our energy use substantially.”

In the United States, FES has provided LEDs at gas stations, car dealerships and parking garages. In Hollywood, Florida, it recently worked with a local contractor to switch 300 fixtures at the Radius parking garage to high intensity gas induction lights that last approximately 100,000 light hours per bulb or more than 20 years.

FES has been in business since 2009 and employs approximately 12 people in the United States and 10 people in the UK. With its most recent contract, it is expected to increase its employee base in the US and the UK. FES has also completed projects in the Bahamas and the Dominican Republic.

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