GLASGOW, Scotland - Smart Metering Systems ("SMS Plc"), which installs and manages smart meters and carbon reduction ("CaRe") assets, has announced it is expanding to Cork after the recent acquisition of energy tech start-up Solo Energy.
SMS PIc, headquartered on Glasgow, Scotland has been in business for 25 years, since its foundation in1995.
The disruptive business model of Solo Energy includes the offer of battery storage, microgeneration, and electric vehicle (EV) charger installations to homes and businesses, and says its goal is to lower energy bills for consumers and help make the transition to renewables through establishing a Virtual Power Plant (VPP).
This is achieved through the cloud-based aggregation platform that Solo has developed in-house from its offices in Cork, and Orkney, Scotland. The platform centrally controls the distributed energy assets it installs to balance renewable generation and create efficient, local smart energy systems. The 20 software development and project management roles, the company says, will be created over the next five years.
"With the backing of SMS Plc, we are now in a position to continue scaling the business in a sustainable manner while embracing new and exciting opportunities across the energy ecosystem. The 20 jobs created following our acquisition by SMS will also contribute to the fast-expanding renewable energy cluster in Cork and the South West region, and we are thrilled to play our part in growing such an important, innovative sector," Killian O'Connor, Operations Director and Co-Founder of Solo Energy (pictured), said Tuesday.
The Tnaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar said: "To transition to a greener economy, we will need innovative and disruptive companies to take advantage of the opportunities that will arise in the move to a low carbon future. SMS's collaboration with Solo Energy will see the creation of 20 new highly skilled jobs in Cork. I wish them well for the future. Companies such as this one will help Ireland achieve our target of dramatically reducing carbon emissions."
Martin Shanahan, CEO of IDA Ireland added: "Today's announcement by SMS Plc is in line with IDA Ireland's strategy to continue to win investment and jobs in regional locations. Solo Energy is an excellent fit with IDA's growing sustainable energy portfolio and the creation of 20 roles in Cork demonstrates the strong availability of talent in the region."