The Incubator is primarily there to bring expertise into the business. In our particular case we’ve benefited from the Carbon Trust’s expertise in marketing, intellectual property strategy and financial strategy.
Ian Turner, CEO, Juice Technology Ltd.
The challenge
Incandescent light bulbs draw power from the grid, and release it as both light and heat. The power released as heat is wasted energy. The aim of LED lamps is to improve the proportion of light to heat and increase the lifespan of the bulb.
Since 2001, Juice Technology has been developing LED lighting systems which require less power, emit less heat, and are longer lasting than traditional bulbs. At the same time, the company is aware of the need to consider aesthetics and to produce the lighting effects which customers have ome to expect from incandescent bulbs.
“LEDs use up to 90% less electricity than incandescent bulbs to produce the same amount of light,” explains Juice’s CEO Ian Turner. “Considering that lighting consumes 20% of most countries electrical energy production, this could present a substantial reduction in electrical consumption and carbon produced.”
The approach
Juice Technology uses its own patented electronic techniques to produce highly efficient light fittings. These generate very little heat, can be dimmed as needed, and are surface mounted so they can be installed in places where traditional fixtures couldn’t.
The company predicts that over the next five years, as efficiency increases, LEDs will account for more than 25% of the £10 billion lighting fixture industry. While incandescent bulbs have an average life of 1,000 to 2,000 hours, LEDs can last for as long as 50,000 hours.
“Over the past five years, LEDs, which have been known for 40 or 50 years now, have become much more efficient, and that improvement is now continuing at probably 25% a year,” says Ian.
Carbon Trust Incubator
The objective of the Carbon Trust Incubator is to help promising early stage UK companies achieve the next big step in their development, by raising finance, securing licence deals or partnering with a major player in their market.
We work with companies that have developed innovative technologies and services that demonstrate exceptional commercial and carbon-saving potential, with a real appetite for high growth.
To do this, we deliver top-class consulting support, provide specialised training events and open doors to strategic partnerships across a wide range of technologies and markets.
Find out more about Entrepreneurs Fast Track support for entrepreneurs.