IT and technology firm NVT Group and Own Energy, which designed the small turbine that will be used, have formed a joint partnership that will create 25 jobs over the next year.
Own Energy is to move from its offices in Glasgow to NVT Group’s headquarters in Bellshill, Lanarkshire, as a result of the deal.
David Gordon, Own Energy’s chief executive, said he believed the new business was “likely to scale up quickly”.
“There are around 10 million lampposts in the UK and upwards of 20 per cent of these are suitable for conversion which makes this a very scalable business opportunity with huge export potential,” he said.
“We have already had positive preliminary discussions with UK public and private bodies and have had indications of interest from the USA, Canada, Mexico, Ireland and South Africa.
“We believe this business has the potential to achieve an annual UK turnover of over £400m within five years.”
source: http://www.independent.co.uk
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