Energy saving software firm wins investment

A YORKSHIRE software company which helps large businesses manage their energy use has secured a further £250,000 in funding.

The investment – from Partnership Investment Finance (PIF) – is the third the Shipley-based company has received from PIF taking the total investment to £500,000.

REM Probe, established three years ago by managing director Kelvin Ager, has developed REM Enterprise – a software enterprise system that allows large firms to monitor their energy consumption.

Mr Ager said: “As concerns over the rising energy costs continue to dominate the news and with more companies adopting money-saving and environmentally friendly policies, interest in REM Enterprise has risen significantly. REM Enterprise analyses real time data from tens of thousands of sensors to create a knowledge stream which shows the changes in an organisation’s buildings, whether they are offices, branches, stores or factories.”

REM Probe, which employs 15 staff, expects the market for its services to grow over the coming years as firms become increasingly concerned about their energy consumption and their impact on the environment.

Mr Ager added: “Remote Environmental Management is being adopted by many companies as new building regulations dictate that new buildings have to be as environmentally efficient as possible.”

PIF is a £37m investment fund aimed at supporting growing businesses in the Yorkshire region by providing equity investments and loans.