Norman Crowley’s Cool Planet Group has acquired an Antrim-based energy business for an undisclosed sum.
Cool Planet Group, the transport and energy group led by Irish entrepreneur Norman Crowley, has acquired Northern Ireland’s PowerHouse Generation.
Terms of the deal were not disclosed, but Cool Planet said it is set to boost the group’s revenue by €10m come 2022.
Antrim-based PowerHouse is an electricity management company that works with electricity systems operators like EirGrid to provide companies with energy-saving demand side units (DSUs).
Under the acquisition, it will join Cool Planet Group’s energy services subsidiary Crowley Carbon.
The two companies are hoping that the deal will ramp up their response to changing energy demands over the coming years as businesses and facilities work towards carbon neutrality.
Crowley Carbon, which was founded in 2009 by serial entrepreneur and Corkman Crowley, is one of several Cool Planet Group companies.
It uses a combination of engineering services and a software platform called Clarity to help manufacturing firms and commercial buildings achieve carbon neutrality and energy efficiency. Some of the company’s clients include Owens Illinois, Takeda, Glanbia, Hilton Food Group and GE Healthcare.
The Wicklow-based Cool Planet Group also includes electric car manufacturer Ava, non-profit Cool Planet Experience and solar power business Crowley Solar.
Crowley Carbon chief executive Alan Keogh said the new deal would enable the company to offer DSU services to existing customers, while bringing its engineering services and Clarity software to PowerHouse Generation clients.
“Time is running out for companies who don’t have a carbon neutrality strategy. Crowley Carbon wants to take the build on our 12 years of experience of making industry more energy efficient by helping manufacturing firms become carbon net zero,” Keogh added.
“Through a combination of our vast engineering services and software platform Clarity, we help [clients] develop a plan and achieve net-zero carbon. PowerHouse’s demand response capabilities will complement our existing offerings of solar PV, battery storage, electrification of heat, EV chargers and vehicle to grid, enabling us to reduce carbon and greenhouse gas emissions in plants for a net-zero future.”
PowerHouse Generation chair Richard Watson also welcomed the deal, saying it allow PowerHouse to “accelerate the growth plans and expand into new markets”.