Mitsubishi Corporation in Japan owns the Irish energy trading firm ElectroRoute, which is expanding its business.
It is expanding its teams in Japan and Ireland by 50 people, with the majority of the positions being based in Japan. The hiring plans will include a variety of tech positions in addition to financial and trading positions.
25 new Irish employees have already been hired by ElectroRoute in the past year. By 2025, it intends to fill these 50 roles.
While operating out of Dublin, the company has its Donegal registration. It was purchased by Mitsubishi in July of this year, and the Japanese conglomerate has given it funding totaling €300 million over the previous year.
ElectroRoute has long signalled its intentions to tap into the Japanese market, with founding director Eamonn O’Donoghue relocating to Tokyo in 2020 to take up the role of head of ElectroRoute Japan. A year later, the company announced its first major contract in the Japanese energy market.
Since its launch in 2011, ElectroRoute has employed more than 90 energy specialists across Ireland, the UK, Europe, and Japan.
It is an energy trading and services firm with a focus on renewable sources. The trading team that works to manage the portfolios of more than 400 different solar generation sites is based out of the Dublin operation, which also has an AI-powered platform and machine learning forecasting capabilities.
ElectroRoute CEO and co-founder Ronan Doherty said the team is very excited to be growing its presence in “the fast-growing Japanese market”.
“The country has shown admirable commitment to the green transition and has been investing heavily in renewables. It has set itself challenging yet achievable targets which will require international expertise such as ours to accomplish, so furthering our expansion into Japan and growing our team there was a natural progression for us.”
O’Donoghue added that leading ElectroRoute’s expansion into the Japanese market has been a “unique and rewarding challenge”.
“Japan is the world’s third-largest economy and has a particularly interesting energy market in that it deregulated later than Europe. This, coupled with its ambitious renewables targets, means that ElectroRoute can make a valuable contribution and I am looking forward to leading our expanding team through that process.”