Bolton Business Wins £40,000 Climate Change Innovation Prize

2009-02-20 16:00:36

Luminanz received the award for its low carbon, energy efficient lighting called TorusLite, which uses the latest high brightness white light emitting diode (LED) technology to cut household electricity bills by up to seventy per cent.

Unlike traditional energy saving light bulbs, TorusLites can last without maintenance for over 50,000 hours, are four times more efficient than standard incandescent bulbs, and two times more efficient than a halogen bulb. They are also mercury free and cost nothing to dispose of. 

Shell Springboard gives a financial boost to innovative, commercially viable business ideas that tackle climate change.  The programme encourages a positive business response to the challenge of climate change by providing a no-strings financial boost to small ideas with innovative products and services that could help reduce greenhouse gas emissions and really make a difference.

Dr Neil Haigh, Technical Director of Luminanz said: “I feel absolutely exhilarated to win something from an innovation point of view, it’s a great achievement. Without the funding we would have struggled to move towards full commercialisation of this idea. Also, the Shell Springboard Award allows Luminanz to make headlines as a truly innovative LED lighting company. I now see a bright future for Luminanz”.

Paul Snaith, Neil Haigh & Paul Turner

Paul Snaith, Vice President Downstream Marketing, Shell Global Solutions said: “Congratulations to Neil and Luminanz. The TorusLite not only has huge commercial potential but could have a significant impact on the UK’s carbon emissions. It’s this kind of cutting-edge innovation that has made the UK a world leader in low carbon technology investment. In a difficult economic climate, it has become more important than ever that we continue to foster such independent entrepreneurialism which is so crucial to the UK economy in the long term.”

According to Shell Springboard’s Race Against the Carbon Pound report, the UK’s ‘green’ companies attracted over £1billion of venture capital and private equity investment in 2007: 41% of the EU total.  This makes the UK the European leader when it comes to attracting venture capital and private equity investment in low carbon technologies, second only to the United States worldwide.

Steve Turner of the Association of Greater Manchester Authorities' Economic Commission, a judge at the competition, said: “It is great to see an industry that started in Stockport continue to show innovation in the North West.” Luminanz competed against eight businesses from across the region on 19th February 2009 at the MacDonald Hotel in Manchester and will now compete to be named as the overall UK winner in London on the 3rd of March. Other winners included Connaught Engineering Ltd for developing Hybrid Plus, a versatile energy-saving bolt-on device for car engines; and Walters Innovations, with their MonVal Bicycle, a comfortable, electrically assisted bike. They also received awards of £40,000 each.