The Electric Storage Company expands to meet the growing demand for renewables
Pictured (L-R) are Anne Marie McGoldrick, Co-Founder, The Electric Storage Company and Eddie McGoldrick, Director and Co-Founder, The Electric Storage Company with Grainne McVeigh, Director of Advanced Manufacturing & Engineering, Invest NI.
West Belfast based The Electric Storage Company is expanding its team with 10 jobs in a £780,000 investment to help it meet the growing demand for renewable energy across Northern Ireland, RoI and Great Britain.
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.
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.
Grainne McVeigh, Director of Advanced Manufacturing & Engineering, Invest NI
Congratulating the company on the new expansion, Grainne McVeigh, Invest NI’s Director of Advanced Manufacturing & Engineering said: “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.”
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.
Eddie McGoldrick, Director and Co-Founder, The Electric Storage Company
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.
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.”
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.
Co-founder of The Electric Storage Company, Anne Marie McGoldrick, added: “Essentially, with every install of a smart energy device we are helping our customers start their journey to net zero. Our investment of almost £800,000 is supporting our expansion plans and we are really looking forward to growing our team with 10 new staff. Invest NI has supported us from the get-go with business advice, R&D and now support for the new jobs. It’s an exciting and promising time for our company and we are very excited for the future.”
In recognition of The Electric Storage Company’s commitment to innovation, it has been awarded a Silver Level Innovator Certificate from Innovate NI.
Invest NI is committed to driving innovation in Northern Ireland and is a proud partner of Innovate NI, a Department for the Economy programme, helping local businesses innovate successfully. For further information visit www.innovateni.com
Invest NI’s R&D support is partly financed by the European Regional Development Fund under the EU Investment for Growth and Jobs Programme 2014–2020.
