Taking part in Bord na Móna’s Accelerate Green accelerator for scaling businesses, Dublin business Automsoft may hold the keys to trading in the future energy marketplace.
Automsoft is one of several impactful, established Irish businesses taking part in Accelerate Green, the first Irish accelerator dedicated to scaling companies leading the response to climate action and sustainability by developing products and services based on green innovation.
“We deliver dashboards to managers at different levels, from engineering to Head of Power Generation to enable fast and accurate decision making on pricing, bidding, power mix and maintenance scheduling”
Running from February to May 2022, Accelerate Green operated from from Boora, which represents the centre of Bord na Móna’s innovation heritage, demonstrating Bord na Móna’s commitment to the Midlands’ communities who are a key part of an ecosystem of projects and assets connected to eco-innovation, circular economy, and sustainability.
This work is supported with partial funding through the Bord na Móna led European Commission funded LIFE Integrated Project “Peatlands and People”, an initiative that aims to support the realisation of a carbon-neutral, climate-resilient and environmentally sustainable country.
Solving tomorrow’s energy problems
“The problem we are solving is enabling the generation of higher levels of power from existing renewable assets and the sale of that power for the highest price,” said Automsoft CEO Paraic O’Toole, speaking ahead of the forthcoming Ireland’s Sustainable Future conference on 9 June.
“Our core product is a software data platform that collects data automatically from disparate sources, from individual turbine and solar inverter control systems to external sources such as gas and carbon trading market data.
“We deliver dashboards to managers at different levels, from engineering to Head of Power Generation to enable fast and accurate decision making on pricing, bidding, power mix and maintenance scheduling.”
O’Toole is the CEO and majority shareholder of Automsoft and founded first business at the age of 19.
“We are an established business but see the ecosystem for growing SMEs or start-ups are very limited in terms of funding, government supports particularly taxation and share incentives for attracting employees.”
The business plans to raise funding to pursue its goals for its platform towards the end of the year.
O’Toole’s advice to fellow founders: “Don’t be afraid to pivot, take lots of advice, get an experienced chairman, don’t believe a venture capitalist who tells you they will bring more than money.”