UCD energy management spin-out reaches 2012 Seedcorn regional finals
Wattics, the University College Dublin energy management spin-out company, has been shortlisted for the InterTradeIreland 2012 Seedcorn Business Competition.
The company has been shortlisted for the Dublin Regional final, in the emerging company category.
Wattics, headquartered at NovaUCD, the Centre for New Ventures and Entrepreneurs, has developed an innovative ‘smarter metering’ solution to manage and benchmark electrical machines and appliances operating in industrial and commercial sites.
The Wattics system delivers unprecedented energy insights for customers enabling businesses to reduce their energy costs and identify the best actions to take to significantly reduce their electricity bills.
Members of the Wattics team (l-r) Seamus Porter, Sales Director, Dr Antonio Ruzzelli, CEO, Anthony Schoofs, CTO and Alex Sintoni, Head of Engineering.
Conventional systems require dedicated metering hardware to monitor each appliance incurring high cost and cumbersome installations. Wattics’ unique solution requires a single meter at the mains to dissemble the total energy consumption by appliance, reducing typical metering hardware, installation time and maintenance costs by 60%-90%.
To find out more about Wattics watch our UCD Innovation video below.
Current customers include Pfizer, KPMG, ESB, Dublin Airport, Office of Public Works, Jurys Inn, the K Club, Cork Institute of Technology, Riverside Park Hotel and Mandat International.
Wattics was founded by Dr Antonio Ruzzelli, Anthony Schoofs and Alex Sintoni as a spin-out company from UCD’s School of Computer Science and Informatics and the CLARITY Centre for Sensor Web Technologies.
This InterTradeIreland EquityNetwork competition, which has a total prize fund of €280,000, was open to all independent companies incorporated in Ireland or Northern Ireland in the seed, start-up or early stages of business development and ideally targeting international markets.
During November the regional finalists will make short investment pitches to panels of judges in each region, which will be followed by a Q&A session.
Eight companies will then be selected go forward to the final stage of the competition on 28 November when the finalists again make their pitch but to a separate panel of judges and the winners are selected.
The other two companies shortlisted alongside Wattics are Hanpak and Silvercloud Health.
Tethras, which is also headquartered at NovaUCD, was the 2011 InterTradeIreland Seedcorn Business Competition, Dublin regional winner in the High-Growth company category.
The complete list of shortlisted companies is available via www.intertradeireland.com/seedcorn/
ENDS
16 October 2012
For further information contact Micéal Whelan, University College Dublin, Communications Manager (Innovation), e: miceal.whelan@ucd.ie, t: + 353 1 716 3712 or Dr Antonio Ruzzelli, CEO, Wattics, e: antonio.ruzzelli@wattics.com, t: + 353 87 410 5486.
Editors Notes
Wattics has developed an innovative ‘clever metering’ system to provide businesses with insights into their energy usage, per individual appliance and to assist them in achieving significant energy savings. Wattics was incorporated in 2011 by Dr Antonio Ruzzelli, Alex Sintoni and Anthony Schoofs, as a spin-out company from UCD’s School of Computer Science and Informatics and the CLARITY Centre for Sensor Web Technologies. www.wattics.com
At NovaUCD, the hub for new ventures and entrepreneurs at University College Dublin, we provide purpose-built, state-of-the-art incubation facilities for knowledge-intensive companies alongside a comprehensive business support programme for our client companies. At NovaUCD we nurture new technology and knowledge-intensive enterprises such as Wattics. NovaUCD has been funded through a unique public-private partnership that includes AIB Bank, Arthur Cox, Deloitte, Enterprise Ireland, Ericsson, Goodbody Stockbrokers, UCD and Xilinx. www.ucd.ie/innovation
