Innowatts, a US developer of an AI-enabled SaaS platform for global energy providers, has announced plans to expand its presence in Europe.
With the energy transition gathering pace across the European continent, Innowatts plans on creating more than 40 new roles at a new headquarters in Cork, Ireland, to drive its expansion in the region.
The company began operation in Europe in 2019, but sees enormous potential to empower electricity suppliers and grid operators to gain unrivalled insights that will support them in the transition to a sustainable energy system.
Its new headquarters in Cork will focus on providing AI-driven data and analysis to deliver quality insights and services for the European and global electricity market. The new roles created include data architects, data scientists, full stack and dev-op engineers alongside energy specialist roles including wholesale market traders, forecasters and risk managers.
Commenting on the benefits to the region Leo Varadkar, Tánaiste and Minister for Enterprise Trade & Employment, commented, “I’m very pleased to see that Innowatts is establishing a new office in Cork, which will create over 40 new jobs over the next year or so. The work of companies like Innowatts is important to help ensure Ireland’s transition to a sustainable future. I wish the team every success with their new office.”
David Boundy, Chief Product and Technology Officer and General Manager Europe, added. “Europe and the UK’s journey to net zero is accelerating at rapid pace, now more than ever electricity suppliers and grid operators find themselves in need of data insights to make informed decisions that best serve their customers, today and tomorrow.
“The goal for our expansion in Europe is to help electricity suppliers, grid operators and their customers make the most out of the transition to a smarter, greener energy system. By summer 2021, the UK alone is expected to have over 25 million smart meters producing billions of bits of data an hour. However, to date, much of this data has remained untapped. We’re here to change that.”
Mike Kelleher, Commercial Director Europe for Innowatts, concluded, “This data has enormous potential to help electricity suppliers and grid operators unlock new opportunities that gives them and their customers more control, choice and flexibility. Whether that is through highlighting EV connection hotspots or identifying trends for time of use tariffs, we’re here to help the market on this journey.”