Limerick, Ireland 17/12/2020
Electricity Exchange is delighted to announce that on the 17th of December 2020, we rebranded to VIOTAS.
Our rebrand development was conducted over a 12 month period, where we engaged internal and external stakeholders and consultants to look at all facets of our business. We explored our core values, current and future ambitions, and how that would shape our brand name as well as our brand identity.
We soon realised that our current brand name Electricity Exchange that had served us so well was not speaking to the full extent of what we do.
As part of our research with focus groups, we were able to align two territories that spoke to our business. The first is VIO, which means to conduct in Latin. The second is IoTAS, the original name of our flagship technology. By merging both, we created our new brand, VIOTAS.
The VIOTAS brand is bespoke and gives the company a new and exciting platform to communicate the ground breaking innovations coming from our pioneering team. To ensure VIOTAS is always represented correctly, please find downloadable logos below for your use.
THE STORY OF VIOTAS
VIOTAS was founded in 2013 as Electricity Exchange, with the mission of enabling the increased utilisation of renewable energy worldwide by developing and delivering technologies and services that overcome the barriers that limit its integration. Initially, our technology was developed to shift electricity use across time (Demand Response) to efficiently managing the balance of supply and demand on the power system.
Based on this, our two co-founders, Paddy Finn and Duncan O’Toole worked to create a company to identify and pool the electricity loads of commercial and industrial companies that had sufficient flexibility to defer consumption at the request of the power system operator. Through this approach, VIOTAS has developed into a key Demand Response service to EirGrid, Ireland‘s Transmission System and Market Operator.
As the business grew, we set our sights on the future needs of the power system. We soon realised that with the increase of Renewable Energy integration onto global grids, we needed to evolve our technology to also manage instantaneous dips in system frequency (Frequency Response) and provide security and reliability to TSOs. In 2017 we were able to prove the effectiveness of our technology and in 2018 became a key Frequency Response service provider to EirGrid.
In recent years, with our extensive technical experience, we have been able to extend our capabilities to include grid-scale battery storage and wind farm management to our product offering.
Having established ourselves as market-leaders in Ireland, we have now embarked on international expansion. In 2019 we undertook a rigorous process to identify key markets and in 2020 established our first international office in Melbourne, Australia. Our growth into international markets allows us to bring our technology and services to power systems around the world that face similar challenges of efficiently balancing electricity demand and supply as quantities of renewable energy increase.