Three spin-out companies from the technology research centre comprising the Irish Centre for Manufacturing Research (ICMR) and Innovation for Ireland’s Energy Efficiency (i2e2) Research Centre launched today with news they would create 30 high-tech jobs over the coming three years.
The Government-led advanced manufacturing research centre was established about 18 months ago following a €3.5m investment from ICMR, Enterprise Ireland and the IDA, to support collaboration between researchers from Ireland’s leading universities and some of the country’s largest advanced manufacturing companies and SMEs.
The three spin-out companies launched today – GreenMode Methods, HVAC and ivVer – have each developed technologies and products that can help cut the cost of advanced manufacturing.
GreenMode Methods has developed a methodology that can reduce the energy consumption of production line equipment by up to 40pc. HVAC – arising from a partnership between i2e2, University College Cork and NUI Galway – developed an integrated diagnostic toolkit and IT platform that automatically detects faults in heating, ventilation and air conditioning (HVAC) systems, helping to target inefficiencies in a building’s energy consumption. Finally, ivVer developed a cloud-based advanced analytical technique that will assist manufacturing firms in their efforts to derive insight and make decisions in a more efficient and cost-effective manner.
“The successful commercialisation of discoveries made by ICMR and i2e2 – such as GreenMode Methods, ivVer, and HVAC – will deliver significant cost savings for some of the world’s leading manufacturers,” said Barry Kennedy, chief executive of ICMR and i2e2, speaking at today’s announcement at an event in Enterprise Ireland’s headquarters in Dublin.
“In these straitened times, cost reduction is the primary driving force behind industry’s search for efficiencies and the development of ideas and solutions that will allow manufacturing companies to spend less but achieve more has been one of ICMR and i2e2’s greatest successes to date.”