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[February 19, 2014]
Software firm targets Canadian markets ; SOFTWARE [Newcastle Journal (England)]
(Newcastle Journal (England) Via Acquire Media NewsEdge) ASUNDERLAND?BASED company has set its sights on lucrative Canadian markets, with the launch of a pilot product aimed at controlling energy use in process industries. 5G Technologies - a technology software product development company with offices in India, Canada and the North East - recently developed eC4, a product that uses software to identify and control energy-guzzling equipment to reduce energy costs by up to 15%.
The product - developed in Sunderland and partially funded by Northstar Ventures' North East Proof of Concept Fund in 2009 - offers companies the opportunity to intelligently control energy use by identifying leakage and waste.
As a result, 5G Technologies has broken into new markets in Canada, including manufacturing, automotive, cement, glass and mining, after signing a deal with one of the largest gold-mining companies in the world.
Managing director Ananth Seshan believes the move will help strengthen the company's relationship with industry leaders and other companies.
"Despite having offices in Chennai and Toronto, we wanted a base in Europe to develop an in-depth research strategy while forging new links with leading software experts," he said.
"We heard of the great relationship Sunderland has with software companies in the region and the connection it has with highlyskilled graduates from surrounding universities.
"It's a really exciting time for 5G Technologies as we take our project - which has taken three and a half years to develop - to new markets and establish the company as a leader in energy consumption control.
"We're really optimistic about the future and have set our sights on a number of different opportunities." With a 65-strong workforce, 5G Technologies aims to recruit two new research and development engineers in March.
The company moved to Sunderland's Evolve Business Centre in 2010, with the help of Sunderland City Council, and regards the transition as vital to its growth.
Council leader Cllr Paul Watson said: "It's fantastic to see a Sunderland-based company develop such a functional and unique product and I'm thrilled it has received the backing of Canadian markets." We heard of the great relationship Sunderland has with software firms Ananth Seshan (c) 2014 ProQuest Information and Learning Company; All Rights Reserved.
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