29 February 2024

New Co-CEOs appointed at ElectroRoute – Founder Ronan Doherty steps down after 13 years

ElectroRoute, the global renewable energy trading and services firm which is now owned by Mitsubishi Corporation today announced that co-founder and CEO Ronan Doherty is stepping down from his role after 13 years. He will be replaced by current Chief Commercial Officer Caoimhe Giblin and Chief Financial Officer Donal Flynn who will become Co-CEOs.

ElectroRoute was established by Ronan Doherty and his co-founders in 2010 and has grown to trade and optimise over 1.8GW of renewable assets, trade in more than 15 separate energy markets around the world and employ more than 120 energy professionals across Ireland, the UK and Japan.  It became a wholly owned subsidiary of Mitsubishi Corporation in 2022.   Ronan Doherty will leave his position in May 2024 and be available to the new CEO team for a transition period thereafter.

The new CEO team brings a wealth of combined experience in the renewable energy and energy trading markets.  Caoimhe was a strategic early hire for ElectroRoute, joining in 2014 to build and drive the expansion of its client facing activities.   She previously served with some of the ElectroRoute founders in SSE / Airtricity where she was Director of Finance of SSE Renewables.

Donal joined ElectroRoute in 2021 to help effect its acquisition by Mitsubishi.  He was formerly Group CFO at Glen Dimplex and Executive Director – Group Finance and Commercial at ESB, having also served as CFO with Caoimhe and the future ElectroRoute team at Airtricity.

ElectroRoute has continued its buildout of its Japan subsidiary with continued growth in physical and financial trading activity, executing the first trade on the Japan based TOCOM exchange, executing its first balancing PPA and Corporate PPA in 2023 and its first PPA under the new Japan renewables support scheme in 2024.

In Europe, ElectroRoute has continued growing its client portfolio, signing trading and optimisation contracts with over 800MW of new build renewable power projects as well as an expansion into the renewable gas sector with a landmark biomethane importation transaction with a large transport company.

Commenting on his decision to step away from ElectroRoute, Ronan Doherty said, “It has been an honour to lead this amazing team for the past 13 years and in handing over to Donal and Caoimhe for the next phase of its growth I know it is in very safe hands.   I will be spending more time with my family in the immediate period ahead and in due course will consider where I can next contribute to the Green Transition which has been my life’s work.  I wish the very best of luck to the team and to our fantastic shareholder Mitsubishi Corporation in the years ahead”.

Co-CEOs, Donal Flynn and Caoimhe Giblin said: “Ronan leaves behind an extraordinary legacy having built ElectroRoute with his co-founders over the years. The business now operates in 15 markets, handles 1,000s trades a day and has facilitated the removal of 5M tonnes of CO2 from the energy system.  We would like to thank him personally for all his support, drive and vision while working with him in ElectroRoute.  We are very optimistic about the future of the business as it continues to expand and build on the exceptional platform that Ronan has built”.

ElectroRoute Chairman and General Manager of Mitsubishi Corporation Power Solutions Group Tsuyoshi Kaji said: “We are sorry to see Ronan leave ElectroRoute but the strength and depth of the senior management team he built means the company is strongly positioned to grow further under Caoimhe Giblin and Donal Flynn.  ElectroRoute provides vital services to help the world decarbonise and we look forward to the opportunities in the years ahead in Japan, UK and Europe in particular.”

About ElectroRoute

ElectroRoute is an international, renewables-focused, energy trading and services company. The company has grown rapidly from its establishment in 2011 to now employing over 120 professionals based in Ireland, the UK, Europe, and Japan.

The company’s vision is to make net zero a reality by solving the commercial mechanics of a decarbonised energy system. Its team of traders trade and optimise a range of renewable assets on a 24*7 basis using its unique, tech-driven, AI-powered platform, ElectroRoute CORE.