TESC increases investment in KX tech for smart energy solutions

TESC managing director, Eddie McGoldrick.
TESC managing director, Eddie McGoldrick.

BELFAST based The Electric Storage Company (TESC) has increased its investment in KX, the real-time analytics platform belonging to Newry’s FD Technologies.

Set up in 2017 to offer “cheaper, smarter and greener electricity” TESC last month announced a seven figure investment and strategic partnership with Derry construction group Heron Bros.

TESC has now expanded its relationship with KX.

The west Belfast-based company said the data management and analytics tech underpins its Predictive Analytical Renewables Integration System (PARIS) platform.

The PARIS platform analyses data to accurately predict future energy usage within homes and businesses, specifically when energy is needed and if it can be generated by TESC customers.

The company said it can help aging electricity grids by avoiding peak times without denying customers the service they need, while maximizing commercial opportunities for renewable energy.

TESC’s managing director, Eddie McGoldrick, said customers can reduce energy costs by up to 70 per cent, as well as CO2 emissions.

“We’re seeing substantially greater demand from customers and businesses who are both concerned with rising energy prices but also keen to adopt greener practices, whether through personal choice or forced to do so by regulation and client procurement pre-requisites," he said.

“By taking additional licenses and support from KX, we’ll not only be able to meet current demand but also bring additional innovative solutions to market,”

James Corcoran, SVP customer value at KX said: “We are delighted that TESC has increased its investment in KX as it continues to deliver market-leading green energy solutions.

“The rapid analysis of data to automatically predict future energy consumption, and make commercial and operational decisions based on those insights, is an ideal use case for the real-time power and performance of KX. We look forward to working with TESC as it grows its business.”