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Exceedence Ltd, a spin-out company of UCC, create analytic financial modelling and analytics software tool
Exceedence Ltd featured on the Cork Independent newspaper and Business World for the development of an innovative financial modelling and analytics software tool for the renewable energy sector.
Exceedence, is a start up company that bring to market the ExceedenceFINANCE software developed by software engineers, financial analysts, industry specialists, and researchers in University College Cork’s Marine Renewable Energy Ireland (MaREI) centre.
ExceedenceFINANCE is built for the marine renewable energy industry, including wind, wave and tidal platforms, and was developed over a 4 year period through funding by Enterprise Ireland. Building on extensive expertise and data the software enables business to test and optimise the viability of renewable energy projects. ‘Putting it simply the software analysis the viability of potential renewable projects and helps decisions on when and where these projects should proceed.’ Said Ray Alcorn, CEO of Exceedence.
Through the use of ExceedenceFINANCE investors, device developers, project developers, government agencies and utilities will be able to create renewable energy infrastructure that can address the need for no-carbon energy within Ireland and abroad. The company has already been selected Finalist in the prestigious ‘Excellence in Marine Renewable Energy Awards’ and the ‘Innovation in Marine Technology Awards’.
The company is led by CEO Raymond Alcorn who has 15 years of experience in ocean energy from a commercial and R&D background both overseas and in Ireland. His most recent position as Executive Director of the Hydraulics & Maritime Centre in UCC saw him build and manage a 40 strong technical team over 8 years through various national, EU and international funding mechanisms.
Exceedence has been supported through the GATEWAY UCC Business Incubator ‘this is a very exciting technology that will be a game changer in the decision making for future renewable energy projects. Working with entrepreneurs like Ray in Exceedence on their journey from idea stage to fully commercialising, attracting global customers is what we do best in GATEWAY through our Business Incubation Facilities and Business Supports Packages’. The Future looks very good for this niche company as it scales and grows.
Speaking at the signing of the agreements that formalise the transfer of the product from UCC and Exceedence Dr. Tim Roche Director of the Office of Technology Transfer said: “Exceedence is the latest in a succession of UCC spin-out companies, and indeed the first in the area of renewable energy, associated financial analysis. This represents the culmination of years of development work by UCC and state investment by Enterprise Ireland. We wish Ray Alcorn, whose vision and passion have been critical to forming this venture, every success.
"We are delighted to be signing contracts with UCC that will see Exceedence spin out with technology from the University. The idea and software was originally funded through an Enterprise Ireland research project with Dr Gordon Dalton. Since then, Prof Maguire’s Offices, including that of the Technology Transfer Office and the GATEWAY UCC Incubation Centre have been supportive, giving us the best possible start in business.
Exceedence and our offerings can help accelerate the industry towards credible commercial returns. ExceedenceFINANCE is the first product in our pipeline and we will continue to develop further modules, software tools and services in response to the needs of the renewable industry. “
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Ireland's first marine renewable energy software spin-out has been licenced by UCC. Exceedence Ltd provides an innovative financial modelling and analytics software tool for the renewable energy sector. The company is founded and led by Dr. Ray Alcorn and 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. 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 four year period with the support of the Enterprise Ireland Commercialistation Fund. Exceedence CEO, Dr. Ray Alcorn commented, "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." Manager of Research & Innovation at Enterprise Ireland, Gearoid Mooney added, "Enterprise Ireland is delighted to work with Exceedence, in supporting their go-to-market strategy. "This spin out company has international significance and appeal, and we look forward to working with Exceedence in the future to scale this solution and develop more innovation modelling solutions."
Source: www.businessworld.ie