Friday June 15th was marked as the beginning of the next stage of Electricity Exchange's success story. The company celebrated the official opening of a new purpose-built facility in Castletroy, Limerick. It was a day that allowed for reflection on the beginnings of the company and helped put into perspective how incredible the growth the company has seen over the previous 5 years is. This new office eclipses the size of the first Electricity Exchange office which was only 8ft by 8ft. The intended purpose of this new facility is to allow the company to achieve even larger goals and to facilitate the creation and deployment of new and exciting products and services.
The day was celebrated alongside those who helped shape Electricity Exchange's story including friends, family and clients. The day justifies the hard work and long hours that have been put into shaping the business and workplace into one that has continued to be a welcoming and a motivating place to work, crafted by people's passions.
Alongside our clients, family and friends were some special guests including members of Bord na Mona who backed Electricity Exchange.
The keynote speaker who we were delighted to welcome on the day, was MEP Sean Kelly who praised Paddy and Duncan's success in aiding Ireland to utilise more renewable energy. Mr. Kelly referred to their innovation stating that Paddy and Duncan are “creating new technologies and ensuring that the renewable energy market expands for the good of all.” In his speech he alluded to the opportunity to present at a European level beside other industry experts, to shape and influence the way in which the European Union acts on climate change and renewables.
The day gave Electricity Exchange the opportunity to introduce our new Technology, IoTAS which has been in development 4 years, the product is an Internet of Things based platform which facilitates our new ultra-fast, industry leading, metering technology. IoTAS monitors electrical currents 32,000 times a second and responds to frequency deviations on the grid within 0.06 seconds of an event. This is a massive leap beyond standard metering equipment which may sample data once every 7 seconds.
Attendees were given demonstrations of how our technology works and the process of building our control panels. The demos took place in our lab where technicians build each control and metering module, Electricity Exchange also took the time to show the attendees some of our R&D projects which are currently in the final stages of development.
The next step of the tour brought the attendees to view the operations control centre where operators monitor our client's sites 24/7 and respond to instructions from EirGrid.
New jobs were announced by Dr. Paddy Finn referring in his speech to Electricity Exchanges historical commitment to growth “We have a track record of doubling our staff numbers year on year, and 2018 will be no different”. This development will see staff numbers rise twice this year after our numbers doubled to 24 four months ago. The new positions will be filled by software developers, marketing personnel and sales staff.
“The next stage of this has to be outside of Ireland” stated Duncan O'Toole, referring to the company's plans for growth. The additional staff will help us achieve our new goal of international expansion and help us overcome the risks and challenges involved in order to bring new accolades to our ever-growing story. We now look forward to welcoming new staff members to the team and building relationships with new clients, in new markets around the world, through our present and future technologies.
This is an exciting time for all within the company and we will make sure to keep you updated on all future announcements and developments as we continue to write the next chapter of the Electricity Exchange's story.