Business

Saturday 18 November 2017

Pinergy and Airsynergy's €1.5m tie-up to provide high-tech turbines to SMEs

Dublin Airport-headquartered clean-tech firm Airsynergy, which designs and manufactures micro-turbine technology, has joined forces with pay-as-you-go energy provider Pinergy to make its high-tech energy products more affordable for small Irish companies.
Dublin Airport-headquartered clean-tech firm Airsynergy, which designs and manufactures micro-turbine technology, has joined forces with pay-as-you-go energy provider Pinergy to make its high-tech energy products more affordable for small Irish companies.

Fearghal O'Connor

Irish energy players Airsynergy and Pinergy have commenced a new €1.5m partnership that could see subsidised wind turbines made available to small businesses.

Dublin Airport-headquartered clean-tech firm Airsynergy, which designs and manufactures micro-turbine technology, has joined forces with pay-as-you-go energy provider Pinergy to make its high-tech energy products more affordable for small Irish companies. Airsynergy's key products include new ways of generating and storing energy, as well as a smart pole that is used for lighting and other functions such as pollution monitoring in areas that are not easily accessible to the electricity grid, meaning that dairy farmers and other rural industries could be interested in the technology.

Pinergy, which is focused on customers reducing their energy bills, will provide funding to customers who sign up to its own energy products to allow them to also avail of Airsynergy technology.

Gerry Butler, chief executive of Airsynergy, said that the new deal was aimed at businesses working towards a carbon-neutral energy source.

"All of our products are hugely innovative in the renewable energy sector. Coupled with the funding solution being offered by Pinergy, we can design a flexible funding model that reduces investment and gives an attractive payback," he said. "Effectively, this deal has the potential to remove some of the up-front capital expenditure for companies and makes going green much easier and more affordable. Our turbines are designed so that it costs less to generate electricity than it would cost to buy it from a provider, helping consumers cut costs and save both on energy bills and CO2 output. We see this as having a huge potential in the agri-food sector, where producers are looking to keep reducing their carbon footprint under the Origin Green scheme."

Pinergy ceo Enda Gunnell said the company's customer base was looking for ways to reduce their energy use: "We see growing demand among our customer base for new technology that works. We will provide the grid-based energy of the business and as part of this relationship will fund or part-fund the installations of micro-turbines. High energy users may even be able to avail of the technology completely free."

Earlier this year, it was reported in this newspaper that Pinergy, whose investors include the family of Peter Coates, one of Britain's richest men, and former Ireland rugby captain Paul O'Connell, was raising up to €10m to expand its services to target the SME market.

Sunday Indo Business

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