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ResourceKraft Signs Landmark Energy Management Deal With Bank of Ireland


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ResourceKraft, the energy and carbon management solutions specialist has announced a deal with Bank of Ireland which will see the bank save 8 – 10% of its energy costs per annum through effective branch energy and water management. This landmark deal encompasses the complete Bank of Ireland branch network. Based on the initial success in the branch network, ResourceKraft have since been commissioned to extend the Energy and Carbon Management System (ECMS) in 50 areas across Bank of Ireland’s administration sites in Ireland and the UK.

In 2009, Bank of Ireland sought a number of strategic step change initiatives to manage costs within the Group. Building energy and water management solutions for the branch network became one of these step-changes. Research within the Group Facilities Team identified several areas with significant potential, including possible energy savings through identifying & rigorously managing branch out-of-hours electricity use. The Bank’s energy management needs went out to tender and ResourceKraft successfully won the contract.

ResourceKraft Energy Advisor has been engaged as Bank of Ireland’s ECMS for numerous reasons including the fact that the system can help Bank of Ireland achieve its goals including making energy cost savings, reducing carbon and meeting sustainability targets, utility cost management and maintaining top-level support and service expected of a world-class financial institution. The ResourceKraft system will have identified savings that will have Bank of Ireland exceeding its energy savings goals in year one with the project cash positive in year two.

We are extremely pleased with the success of the project to date. Advisor provides a much needed, practical solution to energy management problems, most especially in the Bank’s branch locations. ResourceKraft are proud to be rolling out an ECMS which will save Bank of Ireland on its energy bills" Director of ResourceKraft, Liam Relihan.

In 2012, Bank of Ireland will be enlisting its Regional and Branch Managers to use ResourceKraft Energy Advisor on a day-to-day basis. The Bank will also be encouraging competition between regions and branches.

“It makes absolute business sense. ResourceKraft is delivering full control of energy and water costs, like ERP does for our other business costs” says Bernard Higgins, Bank of Ireland’s Group Facilities Manager.

“In a few days, ResourceKraft measurement and analysis of 15 minute interval data from Electricity, Fuel, Oil, Gas and Water identified an average of 10% of available electricity savings per branch per month”.

Commenting on the announcement, Orla Rimmington, Operations Director, Kernel Capital said: “Kernel Capital Investee ResourceKraft is creating real savings in energy bills and carbon emissions for Irish businesses which is an important competitiveness factor. Today’s announcement re-affirms the Company’s compelling value proposition.”

“Enterprise Ireland is delighted to support ResourceKraft. The Bank of Ireland is a strong reference customer which will help the company in targeting international customers”says Greg Treston, Enterprise Ireland, Divisional Manager, Scaling and High Potential Start – Ups.

The facilitation of a clean environment and effective environmental protection is a fundamental aspect of good business operations. Bank of Ireland is committed to delivering to environmental and energy management standard ISO50001. Bank of Ireland will be extending the ResourceKraft ECMS to support a comprehensive view of its administration buildings, with particular focus on out-of-hours use, concessionaires, and IT infrastructure.

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