Limerick Energy Tech Firm Viotas Sells Australian Arm to PowerSync
Published
Viotas, an Irish smart-grid technology company, has sold its Australian business to PowerSync, another energy technology firm. The company was founded in Limerick in 2013 and is known for software that helps manage electricity networks more efficiently.
The deal means that the Australian part of Viotas will now operate under PowerSync. The companies have not shared every detail of the sale, but the move shows how Irish firms in the energy sector are working in international markets. Viotas has built its business around smart-grid tools, which help electricity providers balance supply and demand and make better use of renewable energy.
For Ireland, the news is a reminder of the country's growing role in clean energy technology. Many Irish start-ups in this area have grown by selling their products abroad, and the sale of a foreign subsidiary can give a company more money and focus for its core business.
The article is based on initial reports from the Irish Examiner. Further information about the sale, including its value and the future of Viotas staff in Australia, has not yet been made public.
Sources: Irish Examiner
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