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Funding agreement confirmed for technology roll-out

The above image depicts the iLamp a streetlight brand that is leading the sector as the clear choice for on/off grid ultra-smart street lighting

ON/OFF GRID LIGHTING This is a major part of the foundation for iLamp’s mass roll-out under licence to firmly establish iLamp as the streetlight brand that is leading the sector as the clear choice for on/off grid ultra-smart street lighting - CPG CEO Edward Fitzpatrick

Photo by Conflow Power Group

23rd February 2024

     

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Technology developer, licensed technologies supplier and joint venture project developer Conflow Power Group (CPG) confirms the final agreement of $250-million funding from Cede Bank.

The transaction resulted from 18 months of detailed analysis and structural discussions to establish the value and potential revenue for all exclusive territories issued under licence for Conflow’s iLamp technology, primarily within continental US.

Cede Bank, the “world’s only dedicated intangible asset bank”, has approved a total value of more than $350-million in issued licences. It has also approved debt funding to advance these territories to an operational status.

The iLamp technology has achieved approved status, with the only remaining condition being the parameters needed to establish the addressable market need within each state.

With these having now been approved and an individual and substantial roadmap for each territory having been produced and approved, a valuation based on 1% of the addressable market over a ten-year period is possible.

CPG CEO Edward Fitzpatrick states: “This is a major part of the foundation for iLamp’s mass roll-out under licence to firmly establish iLamp as the streetlight brand that is leading the sector as the clear choice for on/off grid ultra-smart street lighting.”

He adds that it has taken a large amount of work to build a framework that allows for a variety of factors that make the product work in an array of environments globally, not only the US.

One of the main contributors in solving a “global puzzle” was ensuring that the licence agreements were consistent across all territories without restricting licence holders from rolling out elements that are locally vital but not globally uniform.

Consequently, local manufacturing plays an important role and some licence holders are already breaking ground in this area to relax the strain on strategic manufacturing agreements that CPG has negotiated in multiple locations.

CPG expects a significant percentage of the street lighting market to be secured now that the main components are in place to affect a mass roll-out. It has taken many years to create a structure that will allow said roll-out to take place for both commercial developments in private contract developments, and municipal contracts.

The municipal contracts and longer-term projects would comprise unique technologies such as Power-as-a-Service, Batteryware, and DroneReady along with other infrastructure technologies in development such as iMicro, iCharge and iTurbine among others – all expected to come to market to complement iLamp by 2026.

With the debt funding secured, iLamp offers a comprehensive package of revenue-based activity for licence holders using a smart financing offering that enables local businesses to “get up and running fast”.

Once a licence holder has optioned a territory, a detailed roadmap is released, which provides a step-by-step approach to immediate value, revenue and profits, as part of a model that shares risk and reward with CPG.

The structure is arranged and administered by ILOCX.com, a major partner in the iLamp global roll-out programme. Licence holders are permitted to sell sub-licences within their own exclusive region which brings in fast revenue and further advances the “Go Local to Go Global” programme.

Once a licence holder is in revenue or sales, they can launch their own sales programme on ILOCX to sell promotional licences to supporters locally, thereby allowing participants to become a stakeholder at multiple levels. Reportedly much of the funding for CPG and iLamp was attained using this structure.

After the promotional licences are sold, the local licence holder can make sales, install iLamps and engage their community to replace all incumbent streetlights with streetlights that generate revenue, by making all streetlights profit centres instead of cost centres, enhancing security and communications, using a multitude of services such as air sensors, parking sensors, charging points, cameras, and  Wi-Fi among others.

iLamp is “real-estate in a pole”, as it rents space within the pole itself to multiple vendors for a variety of data-driven activities in city and rural streets.

Rebates and incentives available, especially in the US, mean that  iLamp will “be a windfall roll-out”, and significant costs can be remitted back to the contractors making use of local and federal incentives generated by the Inflation Reduction Act, which is the “single largest climate action investment in US history”.

Fitzpatrick notes that making a “world-class technology” and launching it is hard enough, but that doing this in line with a global roll-out plan, a financial structure, a revenue generating offer, and a product that fits directly into the “biggest [US federal] government Bill in history” is exponentially more complex.

He explains that it has taken the company longer than anticipated and it is truly grateful for all the support it has received from thousands of licence holders in CPG and iLamp, as they have all shown “enormous patience”.

Edited by Nadine James
Features Deputy Editor

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