“We don’t see energy as a utility. We see it as an opportunity for change and believe that where experience meets innovation, real disruption happens,” says Paul Mahon, who co-founded energy management company Watt Footprint with fellow engineer Paul O’Reilly, during the pandemic.
“As a mechanical engineer, I had worked extensively both domestically and internationally supporting businesses in managing and reducing their energy use,” Mahon says.
“Over time, I observed a real gap in the market for a holistic view of an organisation’s energy consumption that would take in energy, gas, water, solar, carbon and spending all in one place. Watt Footprint was formed to provide this centralisation, and our holistic approach is our key differentiator in the market.”
Mahon says that while companies know all about the pain of high energy bills, most don’t know the make-up of their energy consumption. This makes it difficult to see where savings can be made. The key to reducing waste is having access to good usage data.
That’s not as easy as it sounds, as companies typically juggle multiple providers. However, by leveraging AI and machine learning, the Watt Footprint platform can delve into the details.
“Our focus is next-generation energy control, and we’re on a mission to change how businesses manage energy on a global scale. Our platform makes advanced energy management accessible to every business regardless of size,” Mahon says.
“In short, we take our clients from strategy to action, and it’s not just about identifying inefficiencies. It’s about creating a system that drives continuous improvement, making energy management proactive, measurable, scalable and fit to meet an organisation’s sustainability commitments.”
To achieve this, the Watt Footprint solution goes beyond just counting the cost. It provides an end-to-end management system designed to unite and simplify what up to now has been a fragmented operating cost.
The process starts with a customer energy audit, followed by guidance about energy upgrades and project management of the upgrades as required. The third pillar underpinning the company’s service is support from a team of engineers who monitor customers’ energy use 24/7 to help them interpret data, identify inefficiencies and support data-driven energy reductions. Watt Footprint also shops around to get the best deal on energy prices for its customers.
Currently, organisations typically turn to consultants and product specialists to help them deal with energy issues. But product specialists usually focus on a single area. For example, solar panels, which Mahon says, “are fine as far as they go, but don’t further their understanding of their building or how they’re operating from an energy perspective. Yet it’s this understanding, based on real-time data, that will ensure they are making the right decisions about energy-related investments.
“We are particularly keen to work with SMEs, as they have been underserved due to high costs, and they often don’t have the resources to monitor their energy consumption day to day,” Mahon adds. “However, our clients cover a broad commercial spectrum from small businesses to industrial-sized operations across manufacturing, retail, hospitality and the public sector. We started in Ireland before expanding into the UK and the UAE, where a strong sustainability drive is under way, and we have helped clients make significant savings on their energy bills.”
The founders used their own money to bootstrap the start-up. Since then, the bulk of the financial backing has come from a €7 million funding package from the Davy EIIS (employment investment incentives scheme). EIIS funds provide investors with the opportunity to invest in Irish companies while availing of tax relief. This funding, which was managed by BDO, was raised towards the end of last year and has been used to support product optimisation and commercialise the Watt Footprint platform internationally.
“What was really important to Paul and me was that we got the right funding for the business. We looked at private equity and angel investors, but for us it was a balance between funding and retaining control,” says Mahon, who adds that having built up a healthy client base, the founders were confident about their company’s ability to repay the EIIS money after the required four years. “I don’t think EIIS is for everyone, but it was right for us at this stage of our development.
“Ours is a unique partnership, as Paul and I are from different generations,” Mahon adds. “Paul is a founding director of ORS, which was set up in 1991 to specialise in engineering services for a sustainable future, and he brings decades of international industry experience of delivering energy projects, while my interest is future-focused digital technologies.”
Based in Mullingar, Watt Footprint employs 37 people, including software developers, engineers, and commercial staff with teams on the ground in the UK and the UAE. Its revenue model is a tiered SaaS subscription starting at €167 per month for the Energy Pro package.
“Overall, we’ve found the start-up support system in Ireland strong, particularly for climate tech innovators. However, continued investment in bridging early-stage funding gaps and providing technical mentorship for digital energy solutions would further strengthen the ecosystem,” Mahon says.
“We have received good support from Westmeath local enterprise office, Enterprise Ireland and Bord na Móna through participation in its Accelerate Green GROW programme. These supports have been invaluable in scaling the business and enhancing our technology offerings.
“Watt Footprint was set up during the height of Covid-19, so we’re no strangers to a challenge and over the last while, we have been through a transition period, going from being a more traditional energy management company to a tech-first SaaS business. This has been an exciting challenge for the entire team,” Mahon says.
