Last Autumn we covered the success of MBA Alumn Cathal Brady. Here’s another win for Cathal…
“A break-through contract for Dublin start-up Ultan Technologies will see the company work with the Sustainable Energy Authority of Ireland to help public authorities around the country manage their energy use.
Ultan’s founder, Cathal Brady (MBA 2004), valued the three-year deal at €300,000 or more to supply a version of the web based technology it has developed to monitor and manage utility devices and sensors,.
“This is huge for us” he said. “It has been in the pipeline for a number of months now and we have just signed the contract in the last few weeks. It is a three year contract with the probability of it being renewed. Over time, it could be worth maybe €300,000 to €400,000. It is going to open up bigger customers to us. We sell to a lot of water companies in Ireland, but this is a different type of market and it is a great validation of the platform and the company.”
A software developer by trade, Brady established Ultan Technologies in early 2011 in Dublin’s Docklands Innovation Park. The idea behind the company’s web-based software is to allow utility companies to bill and manage their customers more easily and efficiently. “We develop products that work with any device, meter or sensor to take readings from them and put them up on the cloud, allowing people to monitor usage, set alerts or manage the device, report on the various readings and compare them to historical or external readings,” said Brady.
The software can be used by energy, water and gas providers. “We can take in readings from meters and generate bills, but the software could also be used by other device manufacturers ,” said Brady. “For example, you might have a guy making devices to monitor diesel tanks or bins to see when they’re full. They can monitor their device to be uploaded on to the web and to manage them and control them from there.”
Ultan Technologies employs four people in Dublin and eight sub-contractors in Ukraine. Brady said the company was preparing to ramp up sales to the British and US markets in the coming months and would create ten further jobs in Dublin this year and next. A graduate of the UCD Michael Smurfit Graduate Business School, Brady recently scooped the Association of MBA’s 2012 Entrepreneurial Venture Award. Ultan Technologies also topped the best investment proposal category at last year’s Bolton Trust Docklands Innovation Park Awards.“
– Michael McDonnell