Lanarkshire based technology specialist NVT Group has announced a strategic partnership with green technology innovator Own Energy Solutions which will create 25 new jobs in the next twelve months – to rising to around 300 jobs within three years.
Own Energy has developed a small-wind turbine and inverter system to harvest wind energy using street lamp-posts as hosts.
The raw energy produced by the turbine is conditioned via a bespoke inverter, resulting in metered clean energy being fed directly into the National Grid. As a result, each suitable lamp-post conversion will save half a ton of carbon being released into the atmosphere.
As part of the deal, which has a value to NVT Group of £3.5 million over the next 15 years, Own Energy will relocate from Glasgow to Bellshill where NVT will provide a fully integrated technology platform and back office services, as well as connectivity solutions for the green innovator.
Stephen Brown, Managing Director, NVT Group, said, “We have a great record of working with winning teams and this new venture has every prospect of eclipsing our recent commissions. We believe that Own Energy can become a significant player in the renewables market both in the UK and beyond.”
Entrepreneur David Gordon, Chief Executive of Own Energy, said, “We chose to partner with NVT Group based on its extraordinary performance in recent years, particularly in the delivery of the technology for world-class sporting events such as the Commonwealth Games in Glasgow and The Ryder Cup.
“Our business is likely to scale up quickly and we know that NVT Group will be able to accommodate such growth based on its past experience.
“There are around 10 million lamp-posts in the UK and upwards of 20 percent of these are suitable for conversion which makes this a very scaleable business opportunity with huge export potential.
“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 £400 million within five years.”
Local MSP, Richard Lyle (SNP) said: “This is marvellous news and I know from colleagues across the political divide that this project is really firing the imagination.
“It chimes with the policies of the major political parties in Scotland and can deliver both clean green energy as well as meaningful financial benefits for hosts such as local government and private owners alike. I wish both NVT and Own Energy well in this exciting new energy project.”