Tag: fexco

PACE Airports to Revolutionise International Standards for Airport Emissions Reporting

PACE, Fexco’s leading aviation sustainability data and analytics platform, has expanded its product offering with PACE Airports and is announcing Christchurch Airport as its first customer. PACE has established itself as the market leader for aviation financiers and is trusted by the world’s largest banks, like JP Morgan, and the second largest aircraft lessor in the world, SMBC AC, to inform them on their financed aviation emissions.

Christchurch Airport is a global leader in sustainable airport management and a pioneer in the Airport Carbon Accreditation (ACA) program. It is the first airport in the world to reach level 4 in 2020 and to achieve level 5 accreditation in 2023. It is among only 18 other airports worldwide to achieve this rating. The airport chose PACE Airports so they can track, analyse and action live data rather than on an annual basis. Leveraging multiple new data points allows the sustainability team to have more accurate data-led conversations with airline operators and external stakeholders.

Airports globally are challenged to understand and track their aviation-related emissions. One of the leading causes of this is a considerable lack of consistency within the industry in defining a standardised methodology that can be independently verified. Calculating carbon emissions is usually done on an annual basis at the end of the year, so the lack of real-time data inhibits airports from making actionable decisions to lower their carbon footprint. PACE Airports offers real-time aviation emissions calculations at the click of a button, allowing sustainability teams to focus on the actions rather than the calculations.

In addition, banks can use PACE Airports to evaluate emissions in airport financing deals. Both banks and airports can rely on a single source of truth for emissions metrics to measure performance in sustainability-linked finance deals.

PACE Airports tracks all commercial flight activity globally and calculates specific emissions based on over 10 billion data points, right down to the engine on the wing. It is highly configurable to allow airports to track specific runway taxi times and distances, enabling them to drill down into the minute details for highly accurate output data.

Claire Waghorn, Sustainability Transition Leader at Christchurch Airport, said: “Christchurch Airport has always leaned into sustainability and innovation. We first started tracking our emissions in 2006, and we have continually challenged what more we can do in decarbonisation through innovation and adaptability. Our strategy has always been data-driven, and PACE unlocks a new level of insight and intelligence that is really exciting for us as we continue our sustainability journey. At Christchurch Airport, our key focus on this sustainability journey has always been optimising our entire operations to reduce emissions; the insights from the PACE Airports platform now give us data to consider our aviation-related emissions across the entire airport operations.”

Bertie Murphy, CSO of Fexco Group, added: “Our vision at PACE is to be the independent aviation emissions source across the aviation value chain, trusted and relied upon by all stakeholders. Expanding into Airports is a natural next step in the evolution of our product. We are thrilled to welcome Christchurch Airport, a global leader in sustainability, as a customer. We are enthused to see the impact the data and insights from PACE are having at Christchurch Airport, supporting the team in delivering on their emissions reduction targets.”

PACE delivers up-to-date emissions data, covering over 99% of commercial flights, recording over 370,000 individual routes and over 10 billion flight data points, which are updated every 24 hours. PACE is trusted by the largest aviation financiers in the world, such as JP Morgan Chase. To find out more, visit the PACE website.

ISME Partners with Fexco to simplify Cross-Border payments for Irish SMEs

ISME has announced a partnership with Fexco International Payments, a leading provider of cross-border payment solutions. This collaboration aims to help Irish businesses compete globally, by offering innovative payment services that avoid the high costs and complexities of traditional banking providers.

Neil Mc Donnell, CEO of ISME, commented on the partnership: “As an Irish business headquartered in Killorglin, Co Kerry, Fexco understands the unique challenges faced by Irish SMEs when trading internationally. Its tailored solutions are designed to make cross-border payments simpler, faster, and more cost-effective for our members compared to traditional banks.”

Sean Crowe, CEO, Fexco Financial Services, expressed his excitement: “With over 40 years of experience in delivering payment solutions to companies of all sizes, we understand the crucial role that SMEs play in Ireland’s economy. We are thrilled to announce this partnership. Fexco is uniquely positioned to offer competitive exchange rates, low fees, and a seamless user experience backed by award-winning service and support to SMEs who send, receive, or make international payments.”

 He continued, “together with ISME, we are committed to driving growth and supporting the international ambitions of Irish businesses.”

For more information on the partnership or on how Fexco International Payments can support your business, contact John Barry at jobarry@fexco.com or visit us on https://internationalpayments.fexco.com/isme/

Fexco’s PACE and Trovio form a strategic partnership to develop ‘SAF Connect’, a trading platform for the aviation sector.

PACE, Fexco’s sustainability data and analytics division and Trovio Operating Pty Ltd (Trovio) have announced they have entered into a strategic partnership to develop a new platform, ‘SAF Connect’. 

The partnership will explore opportunities for an inventory management system with Scope 1 & Scope 3 SAF certificate issuance where counterparties can transact, settle, and digitally execute offtake agreements. 

The platform will leverage Fexco’s heritage in sustainability, treasury management, FX and payments, and incorporate Trovio’s leading energy transition technology, CorTenX.

SAF Connect will offer complete transparency, and auditable transaction history, ensuring a scalable solution for all market participants handling SAF and related assets.

“This is a further milestone for us as we continue to build on our market growth. Trovio brings exceptional energy transition technology to this partnership,” said Cathal Foley, CEO of PACE. “Together, we will deliver a unique platform that enhances the efficiency and transparency of the SAF market, driving the aviation industry towards a more sustainable future.”

“Trovio is delighted to partner with Fexco,” said Jon Deane, CEO of Trovio. “Fexco’s PACE is a company that aligns with our vision and values. We believe SAF Connect will provide an innovative solution to support the rapid growth and development of sustainable aviation fuel. By leveraging both Fexco’s and Trovio’s collective expertise, we are building a platform designed specifically for the complexity of this market.”

To find out more, visit the PACE website.

PACE, Fexco’s carbon emissions calculator, expands services to Airport and Corporate Travel Sectors

PACE, Fexco’s sustainability data and analytics product suite, today launched PACE Data Services. This new product suite provides insights for the airport and corporate travel sectors to measure, manage and mitigate their emissions.

Built on PACE’s data platform, a global benchmark for the aviation industry, the service aligns with carbon reduction regulations by using live flight tracking data to monitor over 99% of commercial flights and analyse over 370,000 routes. PACE’s suite of data and analytics is already relied upon by most of the aviation finance sector and the largest financial institutions in the world, like JP Morgan and SMBC.

PACE Data Services will provide airports with a cohesive and precise view of their flight-related emissions. This data will be critical to enabling airports to better manage and mitigate their emissions. In fact, Heathrow’s most recent sustainability report for 2023 stated that 99% of its emissions came from Scope 3 emission reduction targets[1].

In the corporate travel sector, PACE’s data will enable more informed decision-making when it comes to both booking travel and providing more accurate reporting of corporate travel emissions. Recent research from Deloitte shows one in three companies is seeking guidance from travel management companies to reduce their carbon footprint.

In one use case alone, which would have a significant impact on decision-making for corporate travel management, PACE data reveals considerable variations in CO2 emissions per occupied seat—up to 50%—on the same popular transatlantic route across different aircraft. These differences are primarily due to factors such as aircraft seat configuration and aircraft type.

This new offering from PACE enables both these sectors to comply with evolving regulatory frameworks, such as the EU’s Corporate Sustainability Reporting Directive (CSRD). These regulations require the provision of accurate, independently verified, and robust reports on their plans and progress in reducing emissions.

Since its launch in 2022, PACE has become the only Irish company to meet stringent independent aviation measurement standards, including the recent Pegasus Guidelines

“This new service builds on PACE’s rapid growth, driven by demand to address carbon emissions across the aviation value chain,” said Cathal Foley, CEO of PACE. “This will enable airports and corporate travellers to better understand how we fly better while continuing to support ambitious growth strategies. PACE’s vision is to be the global leader in the spaces we operate and deploy our data to enable meaningful change.”

“We are an island and so the aviation sector is a vital part of Ireland’s economy, both as a contributor and an enabler of economic growth. But aviation, like all sectors, will have to transition to a new low-carbon future. It is very exciting to see an Irish company positioned to help transform this sector by utilising its exceptional data and analytics to inform better conversations across the aviation value chain. Measurement is critical to understanding the real impact of carbon reduction measures and claims,” said Minister Eamon Ryan, TD, Minister for the Environment, Climate, Communications and Transport. “Ireland has globally acknowledged aviation expertise, and it is fitting that a successful Irish multinational like Fexco is leading the way in meaningfully enabling the sector to make better decisions on its journey to net zero emissions.”

To find out more, visit the PACE website.

Fexco Managed Services and TEKenable Strategic Partnership to Create 75 Jobs

Financial technology and business services company Fexco and digital services company, TEKenable have announced a strategic partnership to transform customers’ digital experience, invest in new services and create 75 new jobs as a result of this partnership by 2025.

The Fexco Managed Services and TEKenable partnership will see both organisations co-invest in Microsoft Dynamics 365 Products and Salesforce Cloud Solutions and Services aimed at improving their collective customers end-to-end experience across both Irish and UK markets.

This partnership combines TEKenable’s experience in providing Microsoft Dynamics 365 consultancy, development, and support services to their customers, with Fexco’s experience of premium operational delivery, customer management and process optimisation experts. This partnership will also see the creation of 75 new jobs by 2025, with roles created within Digital Customer Experience, Predictive Customer Behaviour Analysis, and Automation & Operational Efficiency services.

Martin Ryan, Managing Director of Fexco Managed Services & Advisory Services, “This partnership will help us build on our collective strengths, and deliver the perfect blend of premium operational expertise, support, and resources to maximise the potential of Microsoft Dynamics 365 in improving our customers’ digital end to end experience. This will see us and TEKenable collaborate across multiple sectors and reinforce our position as trusted advisors who deliver transformative services for our clients.”

Nick Connors, Managing Director, TEKenable “This partnership will see us work with Fexco Managed Services to bring solutions, products and services offerings that will fundamentally change the end-to-end experience of both our customers, and their customers,” said Nick Connors, Group Managing Director, TEKenable. “We predict that we will see growth from a combination of existing and new clients over the coming three years.”

TEKenable was founded in 2002 by Nick Connors and Peter Rose is an innovative technology company focused on delivering digital services through Low Code platforms to medium and large-scale enterprises in Ireland, UK and EMEA.

Delta Partners Targets 30 Tech Investments With New Venture Capital Fund

Dublin-based venture capital firm Delta Partners has announced the launch of its new venture capital fund which will invest into seed and early-stage technology businesses in Ireland. The fund has reached a first close with Bank of Ireland and Enterprise Ireland as cornerstone investors, supported by Fexco and several family offices. New investors will be added to the fund over the coming year, with a target close of €70m.

The Delta team will invest in 30 of Ireland’s most innovative and exciting start-ups over the next 3-4 years, and Delta’s strategy is to invest at both the seed stage, where it will be the first institutional investor on board, and the Series A stage as companies launch their products and services internationally and require more capital to fund the scaling stages.

Expanding the team, Maurice Roche and Dermot Berkery, the existing Partners in Delta, are joined by two new Partners. Amy Neale is joining from a senior role in Mastercard where she led innovation teams focused on fintech across the globe from New York to Singapore and Kenya. Richard Barnwell brings vital experience as a hands-on entrepreneur having created Digit Games, previously an investee of Delta Partners which subsequently sold to U.S. games company Scopely.

Delta has a strong track record, with over 120 investee companies to date with successful scaling companies such as Luzern and Sirius XT in the current portfolio. To date, the team has realised €1.8bn from companies such as Clavis (sold to Ascential plc), Sensl (sold to OnSemiconductor) and Neuravi (sold to Johnson & Johnson).

Commenting on the new fund:

 Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar TD, said: “We are constantly looking at ways we can back Irish businesses, especially at an early stage when raising finance is often the most difficult. I really admire those that are brave enough to start their own business. This Fund will be a €70m pot of money, supported by the Government through Enterprise Ireland for seed and early-stage technology businesses, working on ideas that will create the jobs of the future. I look forward to seeing the success of those that receive funding and wish the Delta team the very best of luck.”

 Jillian Clarkin, Head of SME Markets at Bank of Ireland, said: “This new fund will support the talent and ambition of dozens of fledgling Irish technology businesses. I look forward to seeing them grow into successful employers and exporters and I’m excited that Bank of Ireland will be part of that journey. Bank of Ireland is committed to supporting the innovation that is so important to Ireland’s future economic success.”

 Leo Clancy, CEO, Enterprise Ireland, said: “This fund will increase the availability of capital to early-stage companies to deliver on their business plans and compete with international peers.  Enterprise Ireland’s focus on seed-stage investments, which enhance diversity and experience in the ecosystem, is underpinned by this excellent launch and we look forward to working with the team at Delta over the coming years.”

 Dermot Berkery and Maurice Roche of Delta Partners Limited said: “This fund is aimed directly at the funding gap for early-stage companies in Ireland. Great Irish entrepreneurs are succeeding across the technology spectrum and the main thing they lack is capital to help them to achieve their ambitions. Our two new partners, Amy and Richard, bring incredible skillsets to help these entrepreneurs along their journeys.  We are delighted to have the support of Bank of Ireland, Enterprise Ireland, Fexco and the family offices of some of Ireland’s most successful technology entrepreneurs.”

 Neil Hosty, CEO of Fexco Group said: “Innovation is at the core of Fexco’s strategy and we are delighted to support the next generation of Irish technology success stories. This new fund will provide critical investment to exciting new businesses as they take on the international marketplace.”