IT Firm Formed to Tackle Energy Reduction
(left to right): Jonathon Dixon of SYIF, Ian McKellar Finance Director at Consilico and Chris Walsby Managing Director at Consilico.
A Barnsley company launched with help from South Yorkshire Investment Fund will help businesses manage, analyse and reduce the amount of gas, electricity and water they are using.
Consilico Ltd, based at Barnsley Business Innovation Centre (BBIC), is an independent solutions provider and promotes energy performance management solutions using the latest in Business Intelligence (BI) technology.
The company has received an £85,000 investment from SYIF's Seedcorn Fund to help launch its inaugural product called 'Conserve'.
Conserve allows Consilico customers to analyse their energy usage on a daily, weekly, monthly and yearly basis via the worldwide web and through a specifically customised user dashboard.
Chris Walsby, Managing Director at Consilico, said: "By assessing productivity we can help reduce energy usage. Companies are trying to understand their carbon foot print and how they can reduce it. With this solution we can provide the customer with answers to their questions and thereby give them a powerful management tool.
"This solution offers companies who spend over £10,000pa on their utility bills a prompt return on their investment with short term savings that typically range between 15 to 20 per cent. Thereafter managing sustainability and further reductions in ones carbon footprint becomes the ongoing objective.
"Consilico offer the complete 'end-to-end' service."
Newly formed Consilico has moved to South Yorkshire to launch itself because of the support both financially and non-financially which is available in the region.
Jonathan Dixon, Deputy Chief Executive at South Yorkshire Investment Fund, said: "Energy management has become a key area of expenditure for many large companies. Hundreds of thousands of pounds can be saved through simple measures and Consilico provides a platform for businesses to analyse the changes they are making."
The Seedcorn Fund has been established as a pilot to test ways of financing innovative businesses to take new technologies to market. The Fund aims to invest £4.6 million into early stage technology and knowledge-based businesses over the next two years.
Filling a significant gap in the financing market, the Seedcorn Fund will benefit ventures which may be seen as too high risk by mainstream investors, offering a secure future for innovation in the region.
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About South Yorkshire Investment Fund
South Yorkshire Investment Fund provided seedcorn, loan and equity linked investments, ranging from £15k to £2.5m, specifically to help small and medium businesses meet the gaps in funding they need for growth and development.
Created as part of the Objective 1 programme, the Fund is a private and public sector business finance provider. The European Regional Development Fund and Yorkshire Forward are investors in the Fund.
South Yorkshire Investment Fund also provided access to Business Angel investments from the Yorkshire Association of Business Angels and Microloans through BiG Business Loan Fund and Donbac Microloan Fund.
Finance Yorkshire has now taken on responsibility for providing gap finance in Yorkshire and the Humber.
For further details please contact Suzanne Tinkler, on 0845 649 0000.
South Yorkshire Investment Fund Ltd is a company limited by guarantee (Registered No 3936065). South Yorkshire Investment Fund comprises three sub funds, the South Yorkshire Investment Capital Fund, the South Yorkshire Investment Development Fund, which are each managed by YFM Venture Finance Limited, and the South Yorkshire Investment Small Business Fund, which is managed by Finance South Yorkshire Ltd. YFM Venture Finance Limited (Tel 0113 294 5000) and Finance South Yorkshire Ltd (Tel 01709 386 377) are each authorised and regulated by the Financial Services Authority. South Yorkshire Investment Fund also provides a number of services, which are not regulated by The Financial Services Authority. These include the pilot Seedcorn Fund, BiG Business Loan Fund, Mentorbank and access to the Donbac Microloan Fund. BiG Business Loan Fund is managed by Donbac Ltd (company registration No. 01925556) and Key Fund Yorkshire Ltd (Tel 0114 242 8900).