Sparkfund Technology Subscription with Functional Guarantee:
Public University in West Virginia committed to improving student life through proactive upgrades to buildings, however committing capital or the time and resources for bonds was not an ideal mechanism to achieve the upgrades. The lighting was especially important to the university in outdoor areas such as parking lots that were previously underlit. Indoors, occupants noticed it was difficult to see books on the shelves in the library and the school closed a dance studio due to low lighting.
Using the Sparkfund’s Subscription model, University had 30,000 lights across campus replaced without spending any capital up front. This turnkey solution included equipment, labor, and project management
- Shifted ~10% of total build CapEx budget to OpEx
- Leveraged the local GC already engaged on the project
- Negotiated several deal improvements on behalf of the Hospital with vendors and contractors, ultimately reducing cost and improving quality
- Ongoing customer support and active systems monitoring has already identified and resolved multiple equipment issues