Good news as Climote announces new investment

Local firm Climote has announced that new investment totalling €1.5 million has been invested into the business by existing investors. This investment is a key element of the ambitious research and development programme underway by Climote, which specialises in remote home heating controls. It will also it build on research in the area of smart grid services, the electrification of heat, electric vehicle) charging and home battery storage. climote continues to pioneer the use of technology which enables the reduction in the use of fossil fuels, helping to reduce energy usage and greenhouse gas emissions.

A sales pipeline of €10.12 million is now in place for Climote across the United Kingdom and Ireland from both current and new customers. Currently Climote have trading relationships with large blue chip customers including SSE, ESB Group, Scottish Power, local authorities, public bodies, heating and electrical trade professionals and homebuilders.

The company, founded by Derek Roddy and Eamon Conway, also reports that sales are up 32% in 2018 compared year on year with the same period in 2017 with growth being experienced across all sectors of the business. These sales have been predominantly, but not exclusively from the UK and Irish markets, however the company is delighted to have embarked upon a number of significant new international trials. As part of these international trials, it is expected that Climote will sign a Memorandum of Understanding (MOU) with at least one international partner within the next six months.