Energy solutions firm Acutrace to expand into US
Dublin energy management software start-up Acutrace, the overall winner of this year’s National Enterprise Awards, is planning on expanding into Europe and the US. The firm was established just over years ago by Aidan McDonnell and John Lynch to create energy measurement software which would allow them to collect data in commercial buildings. The firm, which also sells into the UK, now has over 60 customers.
Selling to building owners, energy managers, engineering managers and property management companies, Acutrace has completed projects for Google and Twitter in Ireland as well as the Irish Aviation Authority and the 225-metre Leadenhall Building. The company’s founders are electrical engineers who previously worked in industrial automation and came to know each other through occasionally working together on projects.
“We shared the view that businesses needed better visibility of what was happening with energy — that they needed software which would allow them to pinpoint where and when energy is being used and to identify where it is being wasted,” said Mr McDonnell.
He said that before deciding to get into the energy management software business they researched the market but could find no solutions which provided the comprehensive level of analysis they believed were required to manage energy efficiently.
Called Acutrace MVAC (Measure, Visualise, Analyse and Control) system the solution is designed to measure all utilities and has the ability to collect data from a multitude of building systems. “We had good contacts in the industry and this allowed us to hit the ground running.
Supported by South Dublin Local Enterprise Office, the company took on three employees and at the end of 2016 opened an office in London. It is now carrying out trials with companies in Germany and Austria and has also established contacts in Portugal, Spain Sweden, Norway and Denmark.
“We are now in discussions with both reseller and systems integrators in 10 countries,” said Mr McDonnell. The long-term plan is to move into the US market. “By the end of 2019 we expect to have a turnover of €5m and a staff of 15 people. In 2020 we will be ready to sell in the US.”
