Mitsubishi takes majority stake in Irish energy start-up

Japanese industrial giant Mitsubishi has taken a 60pc stake in Irish energy trading and services firm ElectroRoute.

ElectroRoute has grown rapidly from a start-up with just four people in 2011 to over 40 today.

While the terms of the acquisition weren’t disclosed, ElectroRoute’sentire senior founding management team, including CEO Ronan Doherty, will remain with the firm as it continues its expansion, with plans including the opening of its first offices outside of Ireland.