Pinergy has acquired leading energy and utilities measurement solutions business Acutrace.
Founded in 2015, Acutrace is a software and systems integration business primarily measuring consumption of energy and other utilities in Commercial premises across Ireland and the 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.
“This acquisition will help us to grow and scale further in the coming years”
As Pinergy continues to grow and scale as a leading energy supply and sustainable solutions business to commercial sectors, Acutrace is a natural fit for the brand said Enda Gunnel, CEO of Pinergy.
“As part of Pinergy’s strategic plan, we are looking to accelerate and enhance our unique supply, analysis and 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.”
Rising demand for ESG
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.
“With the emergence of ESG in recent years, measurement, data and insights have come to the fore for many businesses and corporate sustainability plans,” said Acutrace CEO Aidan McDonnell.
“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 and 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.
Main image at top: Aidan McDonnell, CEO at Acutrace with Enda Gunnell, CEO of Pinergy