By @SimonCocking interview with CEO and co-founder, Michael Phelan
Describe the company – the elevator pitch …
Founded in 2007, Endeco Technologies works in partnership with the grid operators in the UK and Ireland to deliver demand-side response (DSR) services and support energy decarbonisation.
Endeco Technologies unlocks powerful, long-term, recurring revenue streams from EirGrid, SONI, the Energy Market and National Grid for major industrial and commercial energy users.
Endeco’s ‘Virtual Power Plant’ enables customers to join together and help balance the electricity grid, contributing towards a more sustainable energy system.
How are you different?
Our award-winning ‘Energy Connect’ platform enables customers to unlock maximum returns on a range of industrial assets such as compressors, pumps, fans, ovens, furnaces, refrigeration… It provides a seamless transition between new DSR revenue schemes as they are introduced and come online.
Endeco’s technical understanding of the unique characteristics of a wide range of industry sectors, enables us to unlock maximum return on our customers’ assets far quicker than our competitors.
Endeco is one of the few ‘true’ DSR aggregators in the market with energy turn-down and turn-up capabilities connected to clients’ assets, including on-site generators and battery energy storage systems.
Furthermore, Endeco is one of the only companies to operate with multiple network operators both in the UK and Ireland.
The unique versatility of Endeco’s technology allows customers to:
- Participate in multiple revenue streams and change schedules according to individual operational needs, ensuring our customers always have access to the most valuable schemes
- Future proofing by switching between revenue streams and avoid costs or charges to do so.
- Securely access energy data from anywhere and on any device. To benchmark, control and optimise facilities in real-time
Why will the company / product do well?
Endeco has successfully deployed its ‘Energy Connect’ technology at over three hundred sites in the UK and Ireland. It understands that individual organisations have their own array of assets and requirements.
Endeco’s technical understanding of the unique characteristics of a wide range of industry sectors, such as food, logistics, glass, metals, plastics, mills, and water, means that every customer site first undergoes a comprehensive energy audit. This allows a bespoke DSR solution to be delivered, rather than an ‘off-the-shelf’, one size fits all service.
VIDEO – Demand-side opportunities for large energy users with Endeco Technologies
Where are you based?
Endeco has headquarters in Dublin and London with a smart grid laboratory in Cork, Ireland. We also have offices in Manchester, Birmingham and Leicester.
When was the company launched?
Endeco was founded in 2007 by Michael Phelan MBA and Padraig Curran BEng, MEngSc and currently manages around 300 sites in the UK and Ireland.
What have been your biggest wins to date?
In July 2015, we had more than 100 customer sites switch overnight from a previous DSR scheme to a new service called firm frequency response (FFR) as the service was released by the UK’s National Grid. This allowed our customers to maximise their revenue without disrupting operations.
Our customers’ success is also reflected in a recent €3.3m funding round led by the Irish Electricity Supply Board (ESB) based on its understanding of our platform’s capabilities. This has clearly set us apart from our competitors in the UK and Irish optimisation and smart grid marketplace.
What type of people (market segment) are you trying to attract to your product?
Businesses are being asked to play a much more active role, using intelligent energy platform technologies to manage how much power they use, and when they use it. We refer to this broad suite of solutions as DSR.
DSR schemes offer generous, long-term additional income to energy-intensive companies that are willing to participate. We have technical expertise within a wide range of market segments including: food, logistics, metal, plastics, chemicals, aggregates, wood, water… We are also working with Dublin Airport.
Tell us about your team?
Endeco has experienced some major changes in the last year. The company has doubled in size, and now employs 45 staff. We’re proud to say we have the largest R&D team in the industry. This allows us to provide our customers with the most advanced and robust technical solutions capable of adapting to changes in future grid balancing schemes.
What are your long term plans for your product / company?
Endeco’s long term plan is to embrace sustainability and encourage environmental best practice across all of our customer sites and operations.
We aim to support and increase the pace of grid decarbonisation while ensuring only enough energy is produced to meet requirements.
R&D continues and we are constantly developing products to keep our platform future-proofed. This will allow us to keep unlocking additional revenues to fit a range of different facilities throughout Europe and the US, while helping businesses around the world achieve their goals as we head towards a lower carbon future
With the support of the European Commission we were able to invest in our R&D programme, allowing us to test some ground-breaking innovations. Proposals for a further €1.3m EC funding have been submitted.
What are your favourite tech gadgets?
Endeco is particularly interested in connected living and so the Internet of Things (IoT) offers some interesting applications.
My favourite tech gadget is the Wifi-enabled touchscreen fridge with built-in internal cameras, which allows me to view ‘selfies’ of its contents, manage my shopping, and keep it fully stocked.
What tech gadgets do you wish you could use to help you?
Common domestic appliances, such as fridges, are ‘always on’. Larger scale industrial refrigeration assets are regularly used for commercial demand-side response services, with temporary minor temperature adjustments made for short periods of time. A DSR-connected domestic fridge could also be used for similar purposes and is something we anticipate seeing in the not too distant future.
Anything else you’d like to add / we should have asked?
Most companies today are aware that the energy landscape is changing. However, DSR schemes, which are aimed at achieving energy security and grid flexibility, can be confusing. Many organisations struggle to understand what is required at a technical level – and this can present a barrier to uptake.
For those businesses wishing to find out if they are eligible for new recurring revenue streams generated through DSR schemes then we recommend you contact Endeco.
You many also want to read our FAQs here.
How do people get in touch with you?
- [email protected]
- Dublin + 00 353 (0)1524 0736 London + 44 (0)1923 431 638