London, England – Conflow Power Group Limited (CPG) has secured a final agreement for a $250 million funding agreement from Cede Bank. The transaction, which has been in the works for 18 months, marks a major milestone for CPG’s iLamp technology, which has been granted exclusive territories for its street light technology in the continental United States.
Cede Bank, the world’s only dedicated intangible asset bank, has approved a total value of over $350 million for these exclusive territories and has provided debt funding to advance them to operational status.
After achieving approved status for its iLamp technology, the only remaining condition was to establish the addressable market need within each state. This has now been approved, allowing for a valuation based on 1% of the addressable market over a ten year period.
Edward Fitzpatrick, CEO of CPG, expressed his excitement over the funding agreement, stating, “This is a major part of the foundation for iLamp’s mass rollout under license to firmly establish iLamp as the leading street light brand in the sector.” 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 key factors in solving this global puzzle was ensuring consistency in license agreements across all territories while still allowing for local customization. Local manufacturing also played a crucial role in this process, with some license holders already breaking ground in this area. This will help to alleviate the strain on strategic manufacturing agreements that CPG has negotiated in multiple locations.
With this funding in place, CPG expects to secure a significant percentage of the street lighting market. The company has spent many years creating a structure that will allow for mass rollout of its technology, targeting both commercial and municipal contracts. Along with its iLamp technology, CPG also has other infrastructure technologies in development, such as iMicro, iCharge, iTurbine, iTrafficSignal, and iStopsign, all of which are expected to come to market by 2026.
The debt funding secured by CPG will allow the company to offer a comprehensive package of revenue-based activities for license holders, utilizing a revenuist-based smart financing offering. This will enable local businesses to get up and running quickly.
Once a license holder has secured their territory, they will receive a detailed roadmap outlining the steps necessary to generate immediate value, revenue, and profits. This roadmap is released by ILOCX.com, a major partner in the iLamp global rollout program. License holders are also permitted to sell sub-licenses within their exclusive region, providing them with additional revenue and advancing the “Go Local to Go Global” program.
To further involve the community and generate revenue, license holders can also sell promotional licenses through ILOCX. This allows individuals to become stakeholders at multiple levels and participate in a much-needed resource: taking all incumbent street lights off the grid and replacing them with iLamps that generate revenue. iLamps offer a multitude of services, such as air sensors, parking sensors, charging points, cameras, and Wi-Fi, making them profit centers instead of cost centers.
CPG’s iLamp technology also aligns with the US government’s “Inflation Reduction Act,” the largest climate action investment in US history. This act provides rebates and incentives for companies like CPG, making it a windfall rollout for iLamp. Additionally, significant costs can be remitted back to contractors, thanks to local and federal incentives.
In closing, Edward Fitzpatrick stated, “Making a world-class technology and launching it is hard enough today, but doing that and wrapping it with a global rollout plan, a financial structure, a revenue-generating offer, and a product that fits directly into the biggest government bill in history is another challenge altogether.” He added, “It has taken us longer than we anticipated, and we are truly grateful for the support we have received from the thousands of license holders in CPG and iLamp. 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
Derick is an experienced reporter having held multiple senior roles for large publishers across Europe. Specialist subjects include small business and financial emerging markets.