LumiGrow has partnered with SparkFund to offer customers a private-label payment plan for installing energy-efficient horticultural lighting upgrades at no upfront cost. LumiGrow is working with SparkFund to fund and install new lighting systems for over 42 customers in the next year.
LumiGrow’s new payment plan was recently used by Sustainable Local Foods (SLF), a hydroponic produce grower. The indoor agricultural company received a LumiGrow Pro LED lighting system, paying no upfront costs. The system now reduces operating costs by about $170,000 annually – more in savings than the company had previously been paying in utility costs.
LumiGrow’s payment plan powered by SparkFund lets customers understand the immediate value of a new lighting system early in LumiGrow’s project development process. SparkFund’s web-based tools allowed Sustainable Local Foods to visualize the savings and positive cash flow resulting from its project.
SparkFund’s financing is targeted to energy savings projects from $10,000 to $1,000,000. SparkFund partners directly with energy efficiency contractors and manufacturers to embed its financing platform into the sales process and help close more deals.