Manufacturing & Supply Chain

Swyft Energy launches a €5m funding round

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Swyft Energy launches a €5m funding round

Swyft Energy launches a €5m funding round
May 18
11:44 2020
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The Sunday Independent informed yesterday that Cork-based energy technology firm Swyft Energy has launched a €5m funding round to further develop its online technology platform as the company looks toward international expansion.

The e-commerce platform allows homeowners to specify, order and receive an estimated price online for the installation of energy-related products from different suppliers.

Swyft, which continues to develop the services side of its business in the Irish market, has now also entered licensing talks with a number of international energy market players after seeing the platform grow rapidly in Ireland.

It has received interest from several international companies in the energy space in both mainland Europe and the US, its chief executive and co-founder Joe Freyne

Swyft first developed an online marketplace for tradespeople two years ago, aimed specifically at the €200m Irish boiler replacement and energy controls market.

The new funding round will be used to further expand the platform’s capabilities in solar PV, as well as introducing electric car chargers and heat pumps to the platform.

“We are aiming to increase the adoption rate of solar PV and renewables in Ireland and are open to discussing strategic partnerships and potential investment with companies within the industry that can complement our business and technology,” said Freyne. “The Irish solar PV market is in its embryonic stage, but in terms of sunlight hours and PV production, Ireland is comparable with Germany – which is one of the largest solar power producers in the world.”

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