Teesside energy sector monitoring specialist EnAppSys has relocated its business to larger premises to accommodate increasing staff numbers after four years of strong growth.
EnAppSys provides cloud-based market monitoring and consultancy support to power stations, trading firms, investors and market commentators which are supported by highly skilled analytical and data modelling services.
With growing demand for its market intelligence services, the EnAppSys team has grown from three to 10 in four years, whilst achieving 60% turnover growth year-on-year over the same period.
The company was previously based on the High Street in Yarm, but has now purchased new premises on Preston Business Park near Stockton after successive years of business expansion.
Founder and director Phil Hewitt said: “Changes in the power generation sector has increased the complexity of the market and has considerably increased the demand for high quality data analysis and information.
“This growth has prompted the expansion of our team of advisers and the development of new monitoring and analysis tools to help those in the energy sector to better understand the market, make investment decisions and manage their trading positions.
“We are now including the Continental European energy market in the services we offer and hope, through coverage of the global gas market, to extend our offering beyond Europe.”
Among the services and products provided by EnAppSys are modelling new generating assets, market reporting and data processing, alongside specialist areas such as energy price and renewable generation forecasting.
The company expects to continue its expansion in the coming years and potentially play a larger role in the European markets.
Paul Verrill, director, added: “We have secured customers in the UK, Ireland and in continental Europe, as well as from further afield such as the USA. As a result we now serve some of the largest and most important customers in this sector.
“Our North-East base has worked well for us, giving us access to the excellent talent and skills in the energy sector that exist in the region and also provides a quality of life that allows us to attract excellent people into our company.
“With our growth we are looking to continue to hire staff and open an office in Europe in the near future”