Sustainability building consultancy SystemCore, co-founded three years ago by former bond trader Cathal O’Leary, plans to increase its workforce five-fold to 60 over the next two years as seeks to keep up with soaring demand for commercial building energy retrofitting projects.
The company has so far delivered energy upgrade projects for a number of high-profile clients, including Chadwicks-owner Grafton Group and Dublin’s Herbert Park Hotel, Mater Private hospital and Alexandra College private school.
SystemCore said it utilises data to inform the design and management of building systems, partnering with businesses to improve their asset value and to assist on their journey towards net zero carbon emissions.
Mr O’Leary, who was head of South African investment firm Investec’s Irish bond desk between 2010 and 2015 and had previously worked as a stockbroker with NCB, co-founded SystemCore in 2021 with chartered building services engineer Conor McGinn.
Mortgage holders to see dramatic fall in repayments
The Irish Times Business Person of the Month: Cathal Fay, Yuno Group
The power market should reflect that renewable energy is cheaper
Shed Distillery founder Pat Rigney: ‘We’re very focused on a premium position but also on giving value for money to consumers’
Mr McGinn has recently taken up the role of managing director as Mr O’Leary heads business development at the company, which currently employs 10 people.
Buildings currently account for 40 per cent of carbon emissions globally, according to Climate Group, an international non-profit organisation. The Irish Government has signed up to a legally-binding path to net-zero emissions by 2050 and 51 per cent reduction between 2018 and 2030.
Property adviser Savills Ireland estimates that Irish commercial property owners face costs of at least €7 billion to upgrade their properties to meet impending energy efficiency standards. The European Green Deal, meant to effectively eliminate greenhouse gas emissions by 2050, requires that offices reach at least a B energy rating.
Large engineering consultancy groups such as Arup, Ethos, AxisEng and Metic offer building retrofitting services in the Irish market as part of their offering. However, SystemCore’s focus is mainly on existing buildings, where it says it can deliver design solutions to reduce energy consumption by between 30 and 60 per cent.
- Sign up for Business push alerts and have the best news, analysis and comment delivered directly to your phone
- Join The Irish Times on WhatsApp and stay up to date
- Our Inside Business podcast is published weekly – Find the latest episode here
