Lumi Group, the Finnish company that has spun off from Oversol Oy, has raised first part of its 2-4 million euro financing for marketing and further development of its LUMI R series street lights. The company has developed street lights using the LED-technology, which efficiently use about 40% less energy than equivalent traditional products.

It doesn’t take a lot of understanding that energy used to upkeep our infrastructure is putting a lot of costs on the governments. With technological improvements like the LUMI R series, local governments would be able to bring down their infrastructure costs dramatically, regarding street lighting – something that in the Northern part of the hemisphere at these latitudes is definitely anteing up the energy bill.

There is quite a bit of R&D being put into the lights themselves, the first LUMI R lights were optimized for the10 meter light poles. Now with the new financing LUMI R series will be expanded into 6, 8 and 12 meter poles.

According to Lumi Group Oy, during the next 5 – 10 years the market for replacements in street lighting is expected to grow very rapidly due to new energy savings and environmental regulations in EU. Finnish business accelerator Replicon helped to finalise the deal.