Magherfelt’s Heron Bros has announced a significant seven figure investment and strategic partnership with the Belfast based The Electric Storage Company (TESC).
TESC are using smart batteries to harness the energy created from renewable sources such as solar power and wind turbines. Based on algorithms, customers can use that energy in their home or business, giving them more control and allowing them to reduce their electricity bills by over 50%. This investment from Heron Bros will now fast track TESC’s growth plans significantly and they plan to more than double their team of power and software engineers, and data scientists to 35 in the next 2-3 years.
Heron Bros, an award-winning construction and property development company which operates throughout the UK, Ireland and Europe is already experienced in the renewable space as lead partner in the renewable energy company, Simple Power which was at the forefront of wind energy production in Northern Ireland.
The partnership will enable the further roll out of the PARIS platform (Predictive Analytical Renewables Integration System). PARIS brings Fintech and GreenTech together using leading edge data analytics software to gather data from smart batteries in people’s homes and commercial buildings and then ensures they get the cheapest, greenest energy.
Damien O’Callaghan, Group MD, Heron Bros, said; “The combined strengths of Heron Bros and The Electric Storage Company will now offer an exciting and innovative proposition to help our customers on the path to net zero. According to recent research from leading management consultancy McKinsey’s, real estate across homes and businesses accounts for about 40% of all Greenhouse gas emissions. It is our belief that by improving the efficiencies in real estate (both new construction and existing buildings) that most companies can realistically reduce more than half of their emissions between now and 2030. This significant investment and partnership are designed to help companies and individuals do just that.”
Eddie McGoldrick, director TESC added: “The Electric Storage Company combines Northern Ireland’s expertise in power engineering, fintech and big data and we are now aiming to ‘scale up’ significantly to repeat our already successful smart approach to electricity usage across Ireland and GB. Our team are delighted to now partner with one of Northern Ireland’s leading construction and renewables development companies to fast track that growth. Our shared expertise in renewables and delivering innovative customer solutions for customers across the British Isles will bring lower costs to greener homes and businesses and help people to meet their net zero targets sooner.”