Energy monitors firm Ewgeco signs Mitie big deal

By KRISTY DORSEY
Published on 17/06/2012 00:00

TECHNOLOGY fledgling Ewgeco has struck a major deal that will allow the Scottish firm to break into the multi-million-pound market of energy management in the commercial sector.

The agreement with facilities management giant Mitie will lead to a doubling of Ewgeco’s workforce at South Queensferry to 22 by the end of next year.

The firm also expects to add products to its existing range of energy services, which help staff cut consumption through live utility monitoring.

Ewgeco chief executive George McGhee said: “Up until this year, most of our business has been in the housing market.”

He said just 5 per cent of revenues are flowing from commercial sales, but that figure is expected to rise to 20 per cent this year, then up to 50 per cent next year.

Ewgeco’s range will be integrated into the “CarbonCare” offering from Mitie, which generates about 40 per cent of its £2 billion in annual sales from energy management. Mitie’s “CarbonCare” customers include Sony, Standard Life Investments, Tesco, Total and Virgin Trains.

Founded at the end of 2006, Ewgeco is based around a prototype developed by founder Tanya Ewing after she received an unexpectedly high gas bill.

The system was further refined with backing from Archangel Informal Investments and Scottish Enterprise, which last month put a further £1 million into the business to help drive its expansion into commercial markets.

Martin Holt, managing director of Mitie’s technical facilities business, said Ewgeco’s “traffic lights” display made it simple for those working in a building to understand their energy use and how to reduce it.

“Savings of as much as 10 per cent are possible with very little investment,” said Holt.