Financial Services and fintech company Fexco may be best known for its currency exchange business but over the last 40 years it has become well diversified, and its latest move is into sustainability technology with Pace, a bespoke digital platform for aviation emissions analysis.
The airline industry is one of many attempting to meet net-zero carbon emissions. However, up to now, there has been “no standardised, reliable, robust data analytics available to enable the sector to start measuring and moving towards meeting these targets”, says Cathal Foley, chief executive of Pace.
“This is where Pace fits in. It delivers industry-leading real-time emission data, supporting the measurement and management of aviation’s 2050 net-zero goal and aligns with EU’s Fit for 55 Package for the green transition.”
Pace (Platform for Analysing Carbon Emissions) uses publicly available data combined with AI and machine learning to track aircraft, assess their emissions and inform future decision-making. The system can pinpoint the data by airline, aircraft, flight and even by individual seat and airlines and investors can see the emissions patterns and how using a different type or more efficient aircraft, for example, could improve the carbon footprint.
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“Before Pace, the only way to get the data was by asking individual operators for it, which was slow, time consuming and inconsistent. With Pace, an investor can see at a glance which assets are performing well in an emissions context and which ones are not,” says Foley.
Fexco’s Pace is an Irish Times Innovation awards finalist in the Sustainability category sponsored by Skillnet Ireland
