Conflow Power Group Confirms $250 Million Funding Agreement with Cede Bank for iLamp Technology Rollout
Friday 26 January, 2024London, England, January 26 2024, Conflow Power Group Limited (CPG) is pleased to confirm the final agreement for a $250,000,000 (approx 197 Million GBP) funding agreement from Cede Bank.
The transaction is the result of 18 months of detailed analysis and structural discussions to establish the value and potential revenue for all exclusive territories issued under license for Conflow’s iLamp technology mainly within the continental United States of America. Cede Bank, the worlds only dedicated intangible asset bank, has approved a total value in excess of $350 Million in issued licenses and approved a debt funding to advance these territories to operational status.
As the iLamp technology has achieved approved status the only remaining condition was the parameters to establish the addressable market need within each state. These have now been approved and an individual and substantial road map for each territory has been produced and approved. This allows a valuation based on 1% of the addressable market over a ten year period.
Edward Fitzpatrick, CEO of CPG, said “ This is a major part of the foundation for iLamp’s mass rollout under license to firmly establish iLamp as the street light brand that is leading the sector as the clear choice for on/off grid ultra smart street lighting” he added “ it has taken an enormous amount of work to build a framework that allows for multiple varying factors that make the product work in all environments globally not just the USA”
One of the main contributing factors in solving a global puzzle was ensuring the licenses agreements were consistent across all territories without restricting license holders from rolling out elements that are locally vital but not globally uniform. Local manufacturing plays an important role and some license 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 effect this mass roll out. It has taken many years to create a structure that will now allow this to take place for both commercial developments in private contract developments as well as municipal contracts and longer term projects using unique technologies such as Power as a Service, Batteryware, DroneReady along with other infrastructure technologies in development such as iMicro, iCharge, iTurbine, iTrafficSignal and iStopsign due to come to market to compliment iLamp by 2026.
With debt funding secured iLamp offers a comprehensive package of revenue based activity for license holders utilising a revenuist based smart financing offering which allows the local business to get up and running fast.
Once a license holder has optioned a territory a detailed roadmap is released which provides a step by step approach to immediate value, revenue and profits, sharing risk and reward with CPG. The structure is arranged and administered by ILOCX.com, a major partner in the iLamp global roll out program. License holders are permitted to sell sub licenses within their own exclusive region which brings in fast revenue and further advances the ‘Go Local to Go Global” program.
Once a license holder is in revenue or sales they can launch their own sales program on ILOCX to sell promotional licenses to supporters locally, bring the culture down a notch each time allowing everyone who participates to make money and be a stakeholder at multiple levels. Much of the funding for CPG and iLamp since inception four years ago has been achieved via this structure.
Once promotional licenses are sold the local license holder is making sales, installing iLamps and engaging their community to get involved in a much needed resource: taking all incumbent street lights off the grid and replacing them with street lights that generate revenue making all street lights profit centres instead of cost centres, enhancing security, communications and a multitude of services such as air sensors, parking sensors, charging points, cameras, Wi-Fi and much more, iLamp is real estate in a pole renting space within the pole itself to multiple vendors for a variety of data driven activity in our city and rural
streets. Taking the strain off the grid, in doing so creating new micro grids and making the green transition a real and comprehensive plan that literally benefits everyone involved.
Rebates and incentives available especially in the USA mean iLamp will be a windfall rollout, significant costs can be remitted back to the contractors using local and federal incentives generated by the “Inflation Reduction Act” the single largest climate action investment in U.S. History.
Edward Fitzpatrick closes with this statement “making a world class technology and launching it is hard enough today, doing that and wrapping it with a global roll out plan, a financial structure, a revenue generating offer, a product that fits directly into the biggest government bill in history is another, it has taken us longer than we anticipated and we are truly grateful to all the support we have received from thousands of license holders in CPG and iLamp that have shown enormous patience, your reward is coming, this company is a revenue juggernaut and all we have to do now is keep the culture growing to reap the very hard earned rewards”.
For more information, please contact:Conflow Power Group - www.ConflowPower.com - info@conflowpower.com Cede Bank - www.cedebank.com - press@cedebank.com
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