Lumicity attracts investment from RWE

Lumicity has secured a buy out and expansion capital from RWE Supply & Trading.

The funding will enable Lumicity to enhance its renewables offering to the UK poultry sector, where low carbon technologies can result in financial savings and bird welfare improvements.

Lumicity will finance and construct poultry houses incorporating biomass, solar PV, LED lighting and rainwater harvesting systems for its customers.

Lumicity has already installed £25m worth of biomass heating systems across 248 turkey sheds owned by Bernard Matthews.

Lumicity’s founder and CEO, Tristan Fischer, said: “The agricultural sector is a competitive and price sensitive environment. Rising commodity prices have been driving up costs, and increased competition between supermarkets has put pressure on food prices. That is why farmers are focussed on finding ways to reduce costs.

“The investment from RWE will allow Lumicity to help farmers to become more energy efficient, which will not only reduce energy costs, but also reduce feed costs combined with an accelerated growth cycle, with no upfront investment by them. The agritech solutions we provide are good for our customers, good for the environment and good for bird welfare.”