Energy technology company Innowatts has announced plans to create more than 40 new jobs at its newly established European headquarters in Cork.
Headquartered in Texas, Innowatts partners with energy retailers and grid operators worldwide, including Direct Energy, Shell and Iberdrola.
Connected to over 43 million smart meters globally, the company's artificial intelligence-driven platform analyses over five billion data points every hour.
The company has operated in Europe since 2019.
It said it sees enormous potential to empower electricity suppliers and grid operators to gain unrivalled insights that will support them in the transition to a sustainable energy system.
The new Cork roles include data architects, data scientists, full stack and dev-op engineers alongside energy specialist roles including wholesale market traders, forecasters and risk managers.
David Boundy, the company's chief product and technology officer and General Manager Europe said that Europe's journey to net zero is accelerating at rapid pace, now more than ever electricity suppliers and grid operators find themselves in need of data insights to make informed decisions that best serve their customers, today and tomorrow.
"The goal for our expansion in Europe is to help electricity suppliers, grid operators and their customers make the most out of the transition to a smarter, greener energy system," Mr Boundy said.
"By summer 2021, the UK alone is expected to have over 25 million smart meters producing billions of bits of data an hour. However, to date, much of this data has remained untapped. We're here to change that," he added.
IDA Ireland CEO Martin Shanahan said that Innowatts' decision to establish an Irish base from which to expand its European operations is very welcome news and closely aligns with IDA's aim of winning investments in new sustainability related activities.
"The creation of 40 new jobs will be of considerable economic benefit to the Cork and wider South West region," he added.
