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Pinergy Acquires Leading Energy & Utilities Measurement Solutions Business, Acutrace

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By Chamber Press Office, 20 April 2023

Pinergy, Ireland’s smart energy supply & sustainable solutions company has announced that it has acquired Acutrace, Ireland’s leading energy & utilities measurement solutions provider.

Founded in 2015, Acutrace is a Software & Systems Integration business primarily measuring consumption of energy and other utilities in Commercial premises across Ireland & UK. The Acutrace Energy Measurement Platform allows users to pinpoint exactly where and when Energy and other utilities are being used – and wasted - and helps them take corrective action to make significant savings.

As Pinergy continues to grow and scale as a leading energy supply & sustainable solutions business to commercial sectors, Acutrace is a natural fit for the brand. Acutrace is an existing partner of Pinergy and the acquisition will provide enhanced analytics, data visualisation and software capabilities for Pinergy.

ESG and other ‘sustainability’ solutions are being actively sought by many commercial clients and this acquisition will enable Pinergy to scale and meet the growing market demand for its services & solutions.

This acquisition further strengthens Pinergy’s brand promise – “Energy with Insight” which is built on three key pillars; Supplying 100% renewable energy, Analysing how energy and other utilities are used and finally Advising clients on a more sustainable energy future. The purchase of Acutrace will enhance the ‘analysing’ offering Pinergy can provide to its commercial client base.

Commenting on the recent acquisition, Enda Gunnell, CEO of Pinergy said: “As part of Pinergy’s strategic plan, we are looking to accelerate and enhance our unique supply, analysis & advisory offering. In 2021, we purchased Solar PV & battery installation business, Solar Electric to enhance our ability to deliver solar energy solutions at scale. We are now announcing the purchase of Acutrace to enhance our analysis and analytics capability for measuring usage of energy, water, air quality and other utilities.

“This acquisition will help us to grow and scale further in the coming years.  We very much look forward to working more closely with the team at Acutrace to better serve our clients so they can achieve their ESG and sustainability targets.”

Aidan McDonnell, CEO at Acutrace said: “We are delighted to be joining Pinergy and we think their investment in our business will be a game changer for Acutrace.  With the emergence of ESG in recent years, measurement, data and insights have come to the fore for many businesses and corporate sustainability plans. Our technology and insights are leading to significant awareness and changes in energy & utility consumption across many of Ireland’s leading commercial properties, sporting stadia and hospitality venues. I am very confident that our combined offering and expertise will further enhance our already ambitious growth strategies for the Acutrace business”

The Directors of Acutrace, Aidan McDonnell and Gavin Doyle, will continue to drive the business with Enda Gunnell and Peter Bastable joining the Acutrace board. Both Pinergy and Acutrace will continue to operate as distinct businesses and this latest investment will have no impact on the day-to-day business operations of the respective companies.

The web and cloud based Acutrace platform is currently measuring and reporting on the energy & utility performance of over 600 commercial premises across the country in multiple sectors including commercial offices, sports complexes, educational institutions, hospitality outlets, pharmaceutical plants, shopping centres and manufacturing facilities. The company currently employs seven people and is based in Dublin 12.       

Acutrace was an Enterprise Ireland High Potential Start-Up and a former winner of the LEO & Enterprise Ireland National Enterprise Awards.

Today’s announcement was made at North Dock 2, an A-rated and leading NZEB (nearly zero energy building) commercial office property in Dublin 1.  The building uses Pinergy’s 100% green electricity supply and has installed Acutrace technologies to measure its utilities’ consumption. 

ENDS

 

Photographed announcing Pinergy's acquisition of Acutrace, a leading energy and utilities measurement solutions business were from left to right: Aidan McDonnell, CEO, Acutrace with Enda Gunnell, CEO of Pinergy and Peter Bastable, Executive Chairman, Pinergy.  The photograph took place in North Dock 2, an A-rated and leading NZEB (nearly zero energy building) commercial office property located in Dublin 1.

Picture by Shane O'Neill, Coalesce.

 

Media queries:

For further information, please contact:

Frans Van Cauwelaert, frans.vancauwelaert@ogilvy.com / 087 947 6743                                 Niamh O’Connor, niamh.oconnor@ogilvy.com / 085 854 2540

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