Kelsius keeps its cool with €1.7m private equity investment to expand

15 Sep 2008

An Ulster-based provider of integrated wireless monitoring and embedded internet compliance services has secured €1.7m in venture capital led by the Belfast arm of the Ireland-wide private equity firm Enterprise Equity.

Five-year old Kelsius, which has operations in Co Donegal, recently opened new headquarters at the Northern Ireland Science Park where it intends to create 10 jobs over the next 12 months.

Craig Holmes of Enterprise Equity, who joins the Kelsius board as non-executive director, said Kelsius demonstrated the key attributes of a company at its investment sweet spot.

“It is a well-established business with a diverse customer base, a strong brand and a leading-edge product that has global potential.”

The investment will allow Kelsius to respond to growing export demand for its systems, which are already used by over 200 customers in the health and food sectors across Ireland, the UK, the US and Europe.

Matchbox-sized Kelsius wireless sensors are placed in fridges, cold rooms or hot holding areas. Probes wirelessly transmit readings to a portable panel and infrared devices measure surface temperatures of chilled foods.

“The Kelsius wireless monitoring to internet solution removes human error and the costs associated with compliance to HACCP (Hazard Analysis Critical Control Point) and other cold-chain quality standards,” said Kelsius chief executive, Les Curran.

“Kelsius automates and simplifies the process, providing customers with a user-friendly way to collect and store data across single and multi-site organisations.

“The data is stored securely on a central server and users can access information via the web, email or fax. Text messages alert customers to critical events such as fridge or cold store failures.”

By Sorcha Corcoran

Pictured from left: investment managers, Craig Holmes, of the Belfast arm of Ireland-wide private equity house, Enterprise Equity; and Jim Curran, of Clarendon; with Kelsius CEO, Les Curran, who is holding one of the company’s innovative wireless infrared guns, developed for use by the food and catering industries