Irish renewable energy trading and services firm ElectroRoute has announced plans to further expand its operations.
Following its acquisition by Mitsubishi Corporation in July, the company is targeting both Ireland and in its parent’s home market of Japan for expansion.
The company’s growth has been facilitated by the provision of €300m in funding by Mitsubishi Corporation in the last twelve months, given the volatility of global energy markets.
The firm plans to add over 50 jobs by 2025, to be located in Japan and Ireland, having already hired 25 new people in Ireland in the last 12 months. The high value additions include roles in Proprietary Trading, Trading Operations, IT, Risk & Pricing, and Finance Operations.
Commenting on the expansion, ElectroRoute CEO and Co-Founder Ronan Doherty said: “We are very excited to be growing our presence in the fast-growing Japanese market.
“The country has shown admirable commitment to the green transition and has been investing heavily in renewables. It has set itself challenging yet achievable targets which will require international expertise such as ours to accomplish so furthering our expansion into Japan and growing our team there was a natural progression for us.”
Head of ElectroRoute Japan, Eamonn O’Donoghue said: “Leading ElectroRoute’s expansion into the Japanese market has been a unique and rewarding challenge. Japan is the world’s third largest economy and has a particularly interesting energy market in that it deregulated later than Europe.
“This, coupled with its ambitious renewables targets, means that ElectroRoute can make a valuable contribution and I am looking forward to leading our expanding team through that process.”