£5 million of funding will be invested in energy efficient LED lighting throughout the UK.

The UK Green Investment Bank plc (GIB) and Equitix are funding the project which will cut running costs, energy bills and carbon emissions.

The developer, Climate Energy, is planning the first project at global aviation supplier GKN Aerospace’s Falcon Yard facility on the Isle of Wight.

It will then look to deliver a number of other schemes across other sectors in other UK locations.

The GKN scheme will offer minimal disruption during installation and deliver longer life improved lighting.

The new lighting will be specially selected to optimise the light levels required for the work carried out on each particular site.

Geoff Jackson, Chief Executive Officer, Equitix, said: “It is good to see companies taking a serious interest in their energy consumption and implementing responsive action to make a change.

“This simple yet efficient technology is well proven and is set to make a real difference to those who choose to install it.”