Davy EIIS Fund Fuels Climeaction’s Growth with €2.3 Million Investment

Davy EIIS Fund Fuels Climeaction’s Growth with €2.3 Million Investment

BES Management DAC, a joint venture between Davy and BDO, announced its recent investment of €2.3 million in Climeaction, a leading Climate Action Solutions company based in Cork. The investment, made through the 2022 Davy EIIS Fund, is earmarked to accelerate Climeaction's growth strategy, focusing on US market expansion, Digital Product Development, key staff recruitment, and Capital Projects development.

BES Management DAC is the dedicated manager of the Davy EIIS Fund, a pioneering joint venture between Davy and BDO. With a rich history spanning 25 years, BES Management has successfully raised and invested over €225 million in 195 SMEs, solidifying its position as Ireland's longest-running and most experienced BES/EIIS Fund manager.

Established in May 2021, Climeaction has experienced exponential demand for its services. The company stands out within the industry by offering a unique holistic approach to business decarbonisation. While many competitors concentrate solely on a company's energy use, or sustainability reporting, Climeaction takes a comprehensive view that spans the entire supply chain. From raw materials to the end consumer, they identify carbon hotspots and develop strategic plans to mitigate environmental impacts while simultaneously reducing costs. They also partner with the business along their journey to 2030 to implement projects in a practical sense.

Climeaction's practical approach centres on tangible benefits, guided by a team of leading experts with backgrounds in engineering, sustainability, and related fields. Across Ireland, they currently have a highly experienced team of 21, an impressive track record with over 400 customers from micro to mega, and their client list includes some of the country's largest manufacturing facilities in sectors such as Food & Dairy, Semiconductor, Automotive, and Medical Devices. Companies such as Analog Devices, Abbott, Energia, Aryzta, Arrabawn, Garret Motion utilise their advisory services. Through their ‘Climate Action as a Service’ product, they manage the climate impact of sites with a collective energy demand of 22% of Ireland’s natural gas usage.

We have been hugely impressed by the success Paul Murphy and the team at Climeaction have achieved to date and the extent of the significant market opportunity. We look forward to assisting them in executing their ambitious plans to further scale and internationalise the business in this crucial sector.
We are delighted to announce our recent partnership with the Davy EIIS Fund, a pivotal step in our journey to mainstream Climate Action & ESG excellence for business customers. This substantial investment of €2.3 million will be instrumental in supercharging our growth strategy, enabling us to expand into the US market, hire key talent, and further innovate to create even more impact.

As Climeaction embarks on its ambitious journey, the €2.3 million investment from the Davy EIIS Fund positions them for continued success in 2024 and beyond.

About BDO:

Established by entrepreneurs for entrepreneurs, BDO is the leader in advising and funding ambitious Irish businesses, helping them to grow in domestic and international markets. Through its own professional expertise and by working directly with companies, BDO has developed a unique insight into what makes companies successful. The firm provides a range of services which include audit, tax, corporate finance, corporate recovery, corporate secretarial, consulting, payroll, risk advisory services, talent management and technology services.

BDO employs over 500+ staff in Dublin, Limerick, Cork and an affiliate office in Belfast. BDO is a member firm of BDO International. The BDO International network has 115, 661 partners and staff working in 1,776 offices across 166 countries around the world.

About Climeaction

Climeaction partners with businesses to reduce emissions, cut costs, and enhance overall ESG performance. The company boasts an impressive track record of working with over 400 customers from micro to mega, leveraging a cumulative experience of more than 100 years in the field of Climate Action.