Energy market Software as a Service (SaaS) specialist Quorum has posted record results after its best year in almost two decades of trading.
Year-on-year turnover is up 15 per cent, following a number of significant contract wins, which include the addition of ScottishPower to the company’s impressive roster of customers, while a recruitment drive has boosted skills and capacity in both development and data analytics.
The Sedgefield-based company supports more than 28GW of electricity generation and flexibility in the thermal, renewable, industrial and commercial, and storage sectors of the market. Its products include applications and interfaces used to manage critical processes from energy trading and delivery to financial settlement. The entire suite is underpinned by market leading IT infrastructure and services that make Quorum a trusted partner to many well-known energy businesses.
Following the end of year results, Quorum’s leadership team has agreed an ambitious three-year growth strategy that will see the continued development of the company’s product and service portfolio.
Co-founder and CEO Paul Fothergill said: “It has been a fantastic year for Quorum, with new product development and positive changes in the market, such as the introduction of Virtual Lead Parties (VLPs), combining to generate new opportunities for us.
“Looking ahead to the next few years we will continue to innovate to ensure that we can support our customers and respond to the changing electricity generation and flexibility mix that will define new energy systems.”