Watt Footprint is leading a revolution in the energy sector with a value proposition ‘delivering real energy savings for businesses.’
Energy management tech business Watt Footprint has raised €7m in funding to accelerate its market expansion.
The investment was made by Davy EIIS Fund, managed by BES Management DAC, a joint venture between Davy and BDO. BES Management has invested €225m in 195 SMEs over the past 25 years.
“The investment will be fundamental in accelerating the next stages of launching our software platform to the Irish and international markets”
Watt Footprint is an international award-winning energy management company.
This strategic investment, made through the 2023 Davy EIIS Fund, is set to accelerate Watt Footprint’s market expansion and growth initiatives, including further developments in their cutting-edge technology platform.
Sparking energy reduction strategies for businesses
“The partnership with the Davy EIIS fund marks a significant step in the journey to realise our vision for Watt Footprint,” said Paul Mahon, CEO and co-founder of Watt Footprint.
“The investment will be fundamental in accelerating the next stages of launching our software platform to the Irish and international markets – a significant achievement for the company and marking an exciting future ahead.”
With the rise in energy costs and increased focus on sustainability, globally, businesses are seeing energy reduction, not just as a green initiative, but a financial necessity.
With a clear value proposition “delivering real energy savings for businesses”, Watt Footprint has experienced consistent growth and demand for its services providing a unique solution for businesses both in Ireland and internationally.
Watt Footprint currently employs 20 expert energy specialists from energy auditors, and engineers, to software/technology experts and project managers.
With this new investment, employment numbers will reach forty-five by year end. In addition, the company has opened new offices in London and Dubai with further plans to expand into the US and EU.
“Watt Footprint, under the leadership of Paul Mahon and Paul O’Reilly, has demonstrated an innovative approach to energy management which has already made a significant impact in the market,” said Sinead Heaney, director of BES Management DAC, the manager of the Davy EIIS Fund and partner at BDO Ireland.
“We are thrilled to support their dynamic team as they embark on this next phase of growth and expansion. This investment underscores our belief in their vision and our commitment to backing ambitious businesses that are shaping a more sustainable future.”
Main image at top: Paul O’Reilly, chair and co-founder of Watt Footprint; Sinead Heaney, director of BES Management DAC; and Paul Mahon, CEO and co-founder of Watt Footprint. Photo: Colin Judge
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