Irish-owned electricity provider Pinergy has announced it has purchased Acutrace, a data analysis firm, with the aim of servicing more commercial clients. Reports suggest the purchase cost Pinergy at least €2m.
Acutrace specialises in providing advice to businesses on how to reduce their power bills using live data. This is done by measuring the time of day and amounts of energy being used, in order to help firms lower their utility bills. The company works with 600 business customers in both Ireland and Britain.
This purchase follows a period of collaboration between Acutrace and Pinergy. Enda Gunnell, Chief Executive Officer of Pinergy, stated that this acquisition is part of the company’s strategic plan to “accelerate and enhance our unique supply, analysis and advisory offering.”
The purchase of Acutrace follows the acquisition of Solar Electric, a solar PV and battery installation business, which Pinergy purchased in 2021. Mr Gunnell and Peter Bastable of Pinergy will join the Acutrace board, but the company will remain a separate entity, with Acutrace directors Aidan McDonnell and Gavin Doyle continuing to run the business.
The services Acutrace provides are used by a range of businesses, including offices, sports stadia, educational institutions, hospitality outlets, pharmaceutical plants, shopping centres, and manufacturing plants. Pinergy currently supplies electricity to around 30,000 households and businesses, and this purchase could see the company service even more clients.