Greenled produces and sells comprehensive energy-saving lighting solutions. In fact, the company's lighting solutions are so efficient that initial purchase costs are covered in only a few years. Greenled will even go so far as to work out the savings calculations and perform payback period analyses on behalf of its customers. The company's turnover has steadily increased since 2011 and almost reached EUR 4 million last year. This success saw Greenled winning Kauppalehti Magazine's "Kasvajat" (Growth in Business) prize this year.
"There's a lot of competition in the LED sector, but we stand out from the crowd by providing our customers with a turnkey solution. This always includes smart controls and no extra costs for the whole product lifespan. We can also supply funding if its needed. It's our view that this is the direction the markets are moving in. At the end of the day, we want to give our customers as much value for their money as possible", says the CEO of Greenled, Mikko Aaltonen.
Targeting new markets with the help of Growth Track
The market share occupied by fluorescent lighting is rapidly being eroded by LED lighting. New advances in technology have produced not only brighter but also more energy-efficient lighting solutions. Some of Greenled's most valuable customers include big players in the domestic market such as the Messukeskus Expo and Convention Centre in Helsinki, the Sello shopping mall in Espoo, Europark Finland, and Heinon Tukku Oy.
In terms of market growth, the most promising territories for the company are the Nordic countries, Russia, the Baltic states, and the Middle East. Interest in Western Europe is also growing thanks to key partnerships.
"Above all, we've used Growth Track to identify excellent cooperation partners, to increase our understanding of target markets, and gain knowledge of localisation needs and territory-specific conditions. It's been really important for us to be able to find out how to develop our market presence, both in new and current areas of operation. In Finland, it's often the case that businesses only think about individual export opportunities. But by bringing together experts from a range of sectors, as is the case in the Growth Track service, we can solve our clients' problems and provide our services more broadly than ever before."
A return to Finland
Last year, Greenled did something that is rarely seen nowadays. The company relocated its production operation from China to Finland, and, in doing so, improved its quality control and shortened the time it takes to supply its clients. Located in Oulunsalo, in northern Finland, the new production plant employs seventeen people. In Mikko Aaltonen's eyes, it is important that jobs and the money they generate remain in Finland.
"The move back to Finland was a challenging but very interesting project. Tekes provided invaluable funding for the production localisation process. In conjunction with the project we invested in product management and development. This enabled us to bring new products to market. Examples of these products include our smart office lamp, launched in the spring, which teaches itself to be more effective thanks to its embedded sensors. Finland is home to excellent know-how and we were able to capitalise on this during the project. Indeed, key to the whole project was the development of our own processes and our cooperation partners", Aaltonen notes.
Digitisation has also made an impact on Greenled's business operations, as it operates in a sector in which smart lighting controls often have to comply with the DALI protocol. The industrial internet is another topic hot on the lips of many players in the lighting sector.