Construction News

05/04/2016

ESB NovusModus To Invest Over €3m In Endeco Technologies

Irish energy firm ESB's clean tech fun, ESB NovusModus, has announced it is to invest €3.3 million in Endeco Technologies.

The investment and ongoing partnership will enable ESB's Smart Energy Services division to leverage from Endeco's cutting-edge technology, as part of an overall portfolio of energy solutions.

Paul Mulvaney, Executive Director of Innovation at ESB said: "This strategic partnership with Endeco expands our portfolio of smart energy services, transforming how customers manage, consume and optimise their energy. Clean tech solutions are the future for a low carbon economy and this investment demonstrates both companies’ commitment to achieving greater sustainability through innovative services. This solution also benefits the electricity network by reducing the need to rely on traditional fuels to supply power at short notice which is costly.” "

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The partnership with ESB will grow Endeco's workforce from 20 to 46 and allow Endeco to further develop their smart grid optimisation solutions technology.

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