A WEARSIDE company hopes to cash in on the other side of the Atlantic by helping businesses cut their energy costs.
Software firm 5G Technologies, based, at e-volve Business Park in Rainton Bridge, have developed a new product which improves the control of energy-intensive equipment, and can reduce costs by up to 15 per cent by identifying leakage and wastage.
Called eC4, it has allowed the firm to break into new markets in Canada after recently signing a deal with one of the largest gold-mining companies in the world.
Managing director Ananth Seshan said: “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.
“We heard of the great relationship Sunderland has with software companies in the region, and the connection it has with highly-skilled graduates from surrounding universities.
“We’re really optimistic about the future and have set our sights on a number of different opportunities, including a project to wire municipalities in Canada.
“Sunderland City Council were instrumental in helping find a suitable facility, and the city is the ideal place for us to plan and develop into our next stages of growth within the business.”
5G Technologies, which aims to recruit two new research and development engineers in March, also works alongside PhD students at Durham University, to develop artificial intelligence in the next generation of its flagship product Enterprise Gateway.
City council leader, Coun Paul Watson, said: “It’s fantastic to see a Sunderland-based company develop such a functional and unique product. I’m thrilled it has received the backing of Canadian markets.”