A New Challenger Approaches

Nova Lumos, a relatively new company to the energy financial settlement space, has just secured its first patent, bringing the number of documents it holds in the sector to a grand total of two. The patent, 10719098, teaches an apparatus which generates and sells solar power on a per use basis. The apparatus has a geo-locating function, so that should the apparatus be removed from its installed location, it will lock up and cease to deliver power, effectively discouraging theft of the apparatus. The device is designed to be installed in developing communities such as in Sub Saharan Africa who traditionally do not have the financial means to purchase energy production equipment or otherwise build out energy grids.

While the patent is interesting in its own right for the invention taught, and for the fact that it is Nova Lumos’ first secured patent in the sector, the patent is also exciting because of who Nova Lumos’ parent company is. Nova Lumos Ltd. holds patents for Lumos Global, whose goal is to bring affordable, sustainable energy production to the developing world. The allowance of Nova Lumos’ patent follows after Lumos, Ivory Coast, a branch of Lumos Global, securing 7.5 Million Euros of funding from the FMO International Development Bank to build out sustainable energy infrastructure along the Ivory Coast in Africa. Patent 10719098, in combination with this funding, positions Lumos to be a competitive player in the sustainable energy market  despite its small presence within the energy financial settlements sector thusfar. Moreover, by moving into a region lacking in energy infrastructure, Lumos may very well be setting itself up to have a patent protected product in a market where it is the biggest competitor.

Lumos Global has just set itself up to be a company to watch out for in delivering sustainable energy and novel settlement options to the developing world. Be sure to watch for further activity from Lumos or Nova Lumos with Magic Number® Patent Forecast®, and review the cited patent claims at Patent Matrix®.