Meterlogix.ie, an energy monitoring and management business based in Galway received its national launch this week.
The company has developed a new live monitoring system which provides management with exact information on their usage, which they can then use as part of the management process, as well as for fault finding, to reduce energy consumption. The more accurately you can measure the usage, the better it can be managed. To put this into context, meters used by electricity providers can only offer a fifteen minute average figure, as opposed to a live reading.
Meterlogix have been developing this system since 2010, with all the hardware and software developed in Ireland. To date, the companies customers have achieved a energy saving of 10-15 per cent from implementing Meterlogix’s system. With this level of savings, the Meterlogix system pays for itself in less than a year.
Meterlogix offers more than just the technology. Their team of engineers work with their clients to ensure they achieve the maximum possible savings from implementing the Meterlogix system.
‘The process of developing this business has been a fantastic experience’ says Ollie Walsh, Managing Director. ‘We have partnered with a number of companies around the west of Ireland and midlands to develop a business that we never could have on our own. As we developed Meterlogix in the middle of a recession, traditional funding was scarce so instead of taking on staff or subcontractors we developed partnerships with companies that had the high level skills we needed.
“We partnered with Avova in Athlone to develop the software, Parkmore Electrical in Ballinasloe for installation, MM Qualtech in Galway for manufacturing, Micromarketing in Galway for strategy, and several environmental businesses, such as Enerit in Galway and Candelas in Mayo for introductions to potential customers. This model has worked really well for us’
The company obviously has big ambitions having opened its UK office within its first year and have now replicated their Irish model in the UK. They are also in discussions with potential customers and partners on mainland Europe.
Meterlogix, which has Enterprise Ireland ‘client’ status is targeting creating twelve jobs over the next two years, with the existing team being expanded in mid 2013.
The company was formally launched by Dr Chris Coughlan, Senior Manager in HP who marvelled at the innovation and growing optimism in technology start ups, not just in the west, but all over Ireland.