An innovative software company, which is working with some of the world’s leading energy suppliers, has made the move to new office space as it continues to grow 20 per cent year on year.
Quorum Development Ltd has created office space for its 14 staff at the North East Technology Park’s new Explorer building in Sedgefield, County Durham, after doubling the number of its clients last year.
The company, which was established in 2002, supplies expert advice, software and services to organisations such as EDF Energy, Orsted, in Denmark, and Centrica. Its products allow customers to gather accurate data across a business and make informed decisions. Examples include its availability forecasting module, which takes in local weather forecasts and plant equipment problems, among other data, to accurately forecast the output for each generating unit. It means traders can understand quickly how much electricity they have available to trade.
John Sherban, director and co-founder of Quorum, said: “The power generation industry is changing quickly in response to the move to generate renewable energy and because we’re a small company, we’re agile and best placed to respond to those changes. There’s a skillset and depth of experience in place here so people know we can be trusted to produce software that solves their problems, on time and to budget.”
Quorum has clients in Europe, the Middle East and Australia. The company turns over £1.3m per year, with plans to turn over £2m in two years’ time. It was previously based at the incubator at NETPark, which is run by Business Durham, the economic development organisation for County Durham, before it moved into the new Explorer building, which has been part of the park’s ambitious expansion plans.
John added: “NETPark has been a great place for us. The location is great for our clients who fly into Newcastle Airport and the staff at Business Durham have been fantastic and have done everything possible to facilitate the move for us.”
Janet Todd, manager of NETPark, which is run by Business Durham on behalf of Durham County Council, said: “Quorum is an exceptional company and we’re delighted to welcome them to their new home. We look forward to supporting them further as their business grows.”