Conflow Power Group agrees terms with ASB Technologies to finance iLamp purchases across America.

Conflow Power Group is pleased to announce the agreement for the formation of a brand-new finance fund to facilitate the purchase of iLamps.

LONDON, ENGLAND, UNITED KINGDOM, October 29, 2024 /EINPresswire.com/ -- In an agreement reached between ASB Technologies in Luxembourg (ASB) and Conflow Power Group (CPG), a new fund will be established using the existing high yield bond structure of ASB specifically for iLamp product acquisitions, to allow all US-based license holders to offer 100% financing to new housing developers who wish to install iLamps, in exchange for a 25-year contract.

This is a significant milestone in the scale up of iLamp as more than just a street light, but as an ‘economic engine’ generating revenue and enhancing house prices by reducing crime. This finance fund will save time and effort through ease of investment and deployment of funds in closing contracts for the purchase, installation and maintenance of the iLamps in large scale housing projects anywhere in America.

Studies show that well-lit areas reduce crime by up to 21% and lower the risk of night-time traffic accidents by 52%, which in turn provides a direct economic benefit by increasing property values. Research has shown that for every 1% decrease in crime, property values rise by approximately 1%. iLamps not only enhance safety but also boost the financial value of homes in the neighbourhoods where they are installed. This creates a win-win situation for developers and municipalities, who see improved safety and increased housing prices by way of return to buoyant markets, effectively doing well by doing good.

National statistics for crime rates and their effects can be seen on various license holders’ websites across America, including key markets including California, Florida, and Texas, where replacing standard streetlights with iLamps can contribute to measurable reductions in crime and a corresponding increase in property values. By making communities safer, iLamps directly contribute to making homes more valuable, benefiting both residents and local economies. The iLamp takes all this to the next level, by providing: not just simply light, but autonomous and self-powered light; not just security, but enhanced security with built in cameras, sensors, detectors and WiFi – the iLamp can see, hear, speak and smell and now with AI- enhanced cameras it can learn and think.

The fund estimates, once established a peek of 8000 iLamps per month in the second year, which will have a significant impact on street crime in the areas where iLamps are installed. Edward Fitzpatrick, CEO of Conflow Power Group, said “the new fund will impact constructively our ability to expedite the rollout schedules for revenue generating, value enhancing street lights. The term ‘economic engine’ has been enhanced by the creation of this fund as license holders can move faster, close purchase orders easier, and start a mass roll out of our flagship product.” Edward added that he “would like to personally thank Bruce Philp at ASB for his absolute professionalism and open mind to engineer such a bespoke and creative financial instrument to help us scale to new heights.”

iLamp has enormous distribution with 10 states signed up for exclusive licenses all now actively selling sub licenses to widen the scope for sales and bring opportunity to every town and city. It is important to note the factors that differentiate iLamp from others in the market selling more standard solar or LED street lights. Comparatively these are half measures to address the significant need for infrastructure investment in street lamps across the USA and indeed globally., The combination in iLamp of new technology, scalability, brand awareness, systemised sales, purchase and installation processes, as well as now financing to ease the sales process, positions iLamp far beyond its peer group. iLamp is unique also in that it is set to build a framework to create a nationwide distribution plan which will utilise the components already in the market and aggregate them into a smarter unit to make bespoke city-specific iLamps to suit individual city needs and requirements. Further to the flexibility allowing for tailored building blocks reflecting local characteristics and aesthetics, iLamp has built an Addstore that allows developers anywhere to apply to add modules to enhance the utility, individuality and capability of the respective iLamp.

iLamp is employing an iMicro Factory approach to localizing manufacturing immediately on the first sale in every state, certain component will be made locally to help enhance local trade but also to reduce timelines and shipping costs. The iLamp roll out is a sophisticated tech-based plan to make ultra-efficient systems as well as ultra-efficient street lamps.

About Conflow Power Group: (CPG) is a UK-based power tech aggregator which owns 100% of iLamp, including all intellectual property, designs and rights. iLamp is the first flagship product to emerge from CPG with many more sectors and markets to tackle in due course. CPG aim to create a complete ecosystem within the future of power. CPG owns 100% of Batteryware Limited and a 20% stake in Power as a Service limited (PaaS).

About ASB Technologies: ASB group of companies and more specifically ASB Tech is focused on a diverse investment portfolio with a geographical and strategic range of assets, the launch of ASB Technologies and Strategic Asset-backed Securitisation Bonds is the natural next step in the progression of management’s passion into the exciting collaboration with Conflow Power Group and its desire to capture a greater portion of the value chain of the specialist projects it is able to originate. This is achieved through the ability to invest directly within the multiple sectors and by specifically focusing on diversification, unlocking value through an organized investment process and our ability to create investment opportunities purposefully structured to meet needs. ASB can focus on diversifying risk, creating market value and delivering sustainable returns.

Media@asb-Technologies.com
Bruce Philp co-CEO
www.asb-capital.com

Edward Fitzpatrick
Conflow Power Group LTD
+1 917-472-9442
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