Post: GridBeyond creates new jobs and plans for international expansion

GridBeyond, formerly Endeco Technologies, will create close to forty new jobs over the next three years as a part of business growth and planned international expansion.

GridBeyond, the creator of the world’s first hybrid battery & demand network, leading provider of demand side response services and energy optimisation technologies, is proud to announce its further dynamic growth forecast for the next three years. The company is predicting greater than 100% year to year revenue growth in 2018, having already seen a fivefold revenue increase over the period 2014-2017.

Michael Phelan, CEO at GridBeyond, commented “We are perfectly set to achieve our goals of scaling up. We are committed to enhancing our world-class technology by investing in innovation, research and development, and hiring the best talents to grow our team.

“We pride ourselves on providing absolute peace of mind to our clients, by working with the best energy specialists with experience across all key industry sectors. We are trusted by hundreds of sites across the UK and Ireland and we are certain that our holistic approach to simplify complex energy markets for our clients, and ability to transform their energy demand into opportunities, set us up for even faster growth in the coming years.”

GridBeyond is adequately funded for its existing markets, the UK and Ireland, and the company is currently considering its strategic options for further funding to support its international goals of expansion.

The company’s growth is supported by Enterprise Ireland Research & Development Fund, and Enterprise Ireland High Potential Start-ups programme with multiple equity investments from Enterprise Ireland and venture capital funds: Dublin Business Innovation Centre / AIB Seed Capital Fund, ACT Venture Capital, ESB NovusModus by ESB Innovation and private investors.

Michael Phelan, CEO at GridBeyond, commented:

“With the support from Enterprise Ireland and other multiple sources of investment, we are evaluating other markets and negotiating conditions for our international growth. Our ambition is to become the leading global Demand Side Response and energy management company. We will be able to provide more details and official commitments later this year.”

Kevin Sherry, Executive Director, Global Business Development, Enterprise Ireland said: 

“Driving innovation in companies with global ambition is a priority for Enterprise Ireland as it is key to their success in overseas markets. GridBeyond is an example of an Irish company which has successfully utilised available supports to innovate and grow. The creation of 40 new jobs over the next three years is central to the company’s next stage of development and we look forward to continuing to work with GridBeyond on their international expansion plans.”

By the end of June, GridBeyond is planning to launch a new and easy to navigate website to further help in simplifying the complex energy market by presenting information on the energy markets, balancing services, capacity, smart tariffs, energy trading, peak avoidance and energy optimisation in one unified platform.

The new website will also host the refreshed GridBeyond Academy resources – including Continuing Professional Development (CPD) accredited courses for all stakeholders interested in demand side response and the energy market as a whole. The resources include regular thematic webinars, whitepapers, briefings, blogs, and statements which address the current state of the energy market and discuss the predictions for further developments.

GridBeyond’s award-winning client facing portal is also undergoing significant upgrades. After months of testing and listening to clients’ feedback through agile development procedure, the new version of the portal will be released to all clients during summer 2018.