UCD spin-out company based in NovaUCD, Wattics Ltd, was announced as a finalist for the Application of Research and Development category in the Irish Times InterTradeIreland Innovation Awards 2012 last Friday.
Wattics has developed a “smarter metering system”, which manages a business’ energy consumption using a single metering sensor clipped onto the main electricity switchboard. This system can be used to identify the energy use of individual appliances or machines, allowing businesses to identify energy inefficiencies and take measures to significantly reduce their electricity bills.
Dr Antonio Ruzzelli, Anthony Schoofs and Alex Sintoni founded the company as a spin-out from UCD’s School of Computer Science and Informatics, and the CLARITY Centre for Web Sensor Technologies. Jurys Hotel Group, KPMG, OPW and Norfish Ltd are currently among Wattics’ clients.
Co-founder & CEO Dr Antonio Ruzzelli expressed his delight at reaching the final, “being shortlisted for the Irish Times InterTradeIreland Innovation Awards 2012 is a fantastic team achievement. It recognises and validates the hard work and dedication of everyone associated with the establishment of our young Irish start-up company. Wattics is a game changer in the energy management market and aims to be rolled out worldwide. Our unique and powerful software technology is currently saving thousands of euro for our clients.”
He continued by explaining the benefits and accessibility of the system, “it can be applied in businesses around the world to assist them in understanding, managing and ultimately reducing their energy consumption. It requires no complex retrofitting, no appliance sub-metering and no wiring. A single clip-on meter or sensor combined with Wattics’ software technology is all that is needed.”
The Irish Times InterTradeIreland Innovation Awards seek to acknowledge and further the best service, product or operational innovations in Ireland. Shortlisted finalists receive a €10,000 communications package in Innovation Magazine and an iPad with a one year subscription to the Irish Times ePaper. The overall winner will receive a communications and advertising package worth €150,000.
InterTradeIreland Strategy and Policy Director, Aidan Gough stated, “companies that embrace an ongoing culture of innovation are more likely to grow and to sustain growth. The high standard and diverse range of entries to this year’s awards from public and private sectors, and from businesses of all sizes, is extremely encouraging and evidence that innovation as a growth process is being embraced by more and more businesses across the island … These awards honour those who are leading the way with their pioneering work.”
Winners in each category, as well as an overall winner who will be selected from the six category winners, will be announced at a ceremony on February 28th.