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UCC spin-out Capitalise on Blue Economy

By: Tom Russell 01/10/2015 Cork Chamber

General Windfarms

An innovative financial modelling and analytics software tool for the renewable energy sector was licensed this week by University College Cork (UCC) to spin out company, Exceedence Ltd.

The company will now bring to market the ExceedenceFINANCE solution developed by software engineers, financial analysts, industry specialists and researchers in the Marine Renewable Energy Ireland (MaREI) centre at UCC Beaufort. While this is the latest in a succession of UCC spin-out companies, Exceedence is the first in the area of renewable energy and associated financial analysis.

Speaking at the signing of agreements that formalise the transfer of the product from UCC to Exceedence, UCC’s VP of Research and Innovation, Professor Anita Maguire said: “This technology is very significant for the blue economy, in Ireland and internationally. We are delighted to see Exceedence develop commercially with the objective of supporting the marine industry and ultimately creating jobs.”

Dr. Ray Alcorn, Exceedence CEO: “Our software analyzes the viability of potential renewable projects and helps to make intelligent decisions on where and when these projects should proceed. The licensing agreement is important to scale and capture the opportunity presented by the technology solution that we have devised and developed at UCC,”

ExceedenceFINANCE is built for the renewable energy industry, including wind, wave and tidal platforms. Building on extensive expertise and data analytics, the Exceedence software enables organisations and businesses to test and optimise the viability of renewable energy projects. The solution was developed over a 4 year period with the support of the Enterprise Ireland Commercialisation Fund.

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UCC spin-out Capitalise on Blue Economy

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