The company offers a new service to domestic energy users, which gives them the tools to maximise energy produced from renewables such as solar or wind from their homes. Its customers can choose to use the energy generated whenever it is needed or trade it in the energy market through a provision of battery storage hardware and Internet of Things technology.
An investment of £780,000 will see the company create 10 new positions.
Eddie McGoldrick, Director and Co-Founder of The Electric Storage Company, said: "Our business is based on moving customers towards cheaper, smarter, greener energy. By combining knowledge of the market, issues with the rural aspects of electricity supply, factors that create fuel poverty and the recent improvements in relevant technologies, we have created a new business model which we are confident will appeal to domestic consumers in Northern Ireland and beyond."
-- Advertisement --
Invest NI has offered the company £206,000 of support towards the new jobs, support to participate on its collaborative growth programme, technical development assistance and R&D. Two of the new jobs are now in place.
Congratulating the company on the new expansion, Grainne McVeigh, Invest NI's Director of Advanced Manufacturing & Engineering commented: "The Electric Storage Company is an early stage company which is playing a leading role in helping Northern Ireland to become more energy efficient by creating a new concept for the domestic energy market.
"We've worked with the company since it was established in 2017 and have supported it to invest in R&D to develop its data analytics platform, PARIS. This is helping to bring renewable energy to households across Northern Ireland with the potential to grow its business further in RoI and Great Britain. To continue this success, we're now supporting the company to grow its team with specialised data analytical skills and expand its sales and customer support teams to help deliver a strong sales pipeline.
"Invest NI recognises the increasing significance of the green economy as a key driver of growth and it is companies like The Electric Storage Company which are supporting Northern Ireland to play a pivotal role in encouraging a green sustainable recovery and in rebuilding our economy. I wish the company well for the future."
The Electric Storage Company is also the lead company in the Girona Collaborative Growth Network which recently won UKRI funding to enable Girona to bring the first ever 'micro-grid' to Northern Ireland by combining Northern Ireland's expertise in power engineering, fintech and big data. The project, which is due to complete next year, aims to create a revolution in the energy market, giving customers an easy, inexpensive way to incorporate smart solutions like solar panels with battery storage and support the decarbonisation of heat and transport in their daily lives.
