Ricardo plc Completes Acquisition of E3-Modelling to Expand Its Environmental Modelling Tools
25.1.2023 12:00:00 EET | Business Wire | Press release
Ricardo plc, a global strategic, environmental and engineering consulting company, today announces the acquisition of a 93% shareholding of E3-Modelling S.A., a consultancy specialising in delivering advanced empirical modelling of the energy-economy-environment nexus.
E3M’s 34-strong team develops and maintains large-scale models across the energy, environment and transport sectors. Its expertise focuses on the design and impact analysis of the transition of all possible types of power generation technologies, several types of alternative green fuels, energy demand efficiency and mobility restructuring, taking into account the impact of major energy policies on the economies of European countries and globally, with details for more than 50 economic activities. Its integrated modelling tools provide informed, transparent and robust analysis as well as recommendations for its high-profile clients which include the European Commission, national governments, energy regulators and a number of private companies in the energy and transport sectors, financial institutions and strategic consultancies.
Over the past 30 years, E3-Modelling has carried out consultancy on all major European energy and climate policy initiatives, and its large-scale energy, economy and transport models have been applied at the very heart of European Commission policymaking.
“Ricardo’s acquisition of E3-Modelling is fully aligned with our ambition to become a global leader in strategy and engineering consultancy for environmental and energy-transition solutions.” said, Graham Ritchie, Ricardo CEO. “It provides an opportunity to deliver repeatable digital models focused on energy markets, climate change and the decarbonisation of transport to governments and corporate clients globally. We already have a strong working relationship with E3-Modelling having worked together for over 10 years, and this acquisition is a natural advancement, combining our skillsets to offer a transformational contribution to Ricardo’s energy and environmental services portfolio.”
Prof. Emeritus Pantelis Capros and Dr. Leonidas Paroussos of E3-Modelling S.A. added: "We are very excited to be joining an energy & environmental consultancy of Ricardo’s pedigree and to see the business we've built embark on its next stage of growth. By leveraging Ricardo’s scale and resources, we will be able to expand our reach beyond Europe and broaden our modelling services as we assess the implications of energy, climate and sustainable development policies for our clients.”
E3M provides digital modelling capabilities right across the markets that Ricardo serves, making the acquisition highly complementary to Ricardo’s unique position at the intersection of the energy, environment and mobility agendas. To date, the use of E3M’s models has largely focused on Europe and neighbouring countries. The combination of E3M’s capabilities and expertise with Ricardo’s global footprint, services and diversified market expansion will support the Group in creating additional value for its global client base that are focused on their transition towards a low-carbon future.
~ENDS~
About Ricardo
Ricardo plc is a global strategic, environmental, and engineering consulting company, listed on the London Stock Exchange. With over 100 years of engineering excellence and close to 3,000 colleagues in more than 20 countries, we provide exceptional levels of expertise in delivering innovative cross-sector sustainable outcomes to support energy transition and scarce resources, environmental services together with safe and smart mobility. Our global team of consultants, environmental specialists, engineers and scientists support our customers to solve the most complex and dynamic challenges to help achieve a safe and sustainable world. Visit www.ricardo.com
About E3-Modelling
E3-Modelling is a société anonyme (S.A.) company, established in Greece, as a knowledge-intensive consulting company. We deliver consulting services based on the large-scale empirical modelling of the economy-energy-environment nexus: PRIMES, GEM-E3 and Prometheus. We focus on the design of transition in the energy market and systems, both demand and supply of energy, towards green and climate-friendly structures and technologies. With the modelling, we help to assess the transitions from economic, policy and implementation perspectives putting emphasis on the functioning of the system and the markets as a whole when policy instruments influence behaviours and market outcomes. Visit www.e3modelling.com
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230123005530/en/
Contact information
Media contacts:
Natasha Perfect, Ricardo Natasha.perfect@ricardo.com
Elisabeth Cowell, SECNewgate ricardo@secnewgate.co.uk
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Wolters Kluwer brings AI-powered drafting directly into the Libra legal workspace7.10.2026 10:01:00 EEST | Press release
Wolters Kluwer Legal & Regulatory today announced the launch of Drafting, a major new capability within Libra by Wolters Kluwer, the company’s legal AI workspace. Drafting enables legal professionals to create, edit, review, and collaborate on Word documents directly within the workspace, reducing the need to switch between separate applications throughout the drafting process. Together with Libra's existing Word Add-in, which is already widely used by legal professionals today, the new capability provides customers with a second, fully integrated way to draft their documents. Depending on their preferences and workflow, they can either remain within the Microsoft Word environment or work end-to-end in the Libra legal AI workspace. At the core of Drafting is the Libra Editor, a Word-style editing environment that enables users to work directly on legal documents while leveraging Libra’s AI capabilities. Lawyers can draft new documents, revise existing content, collaborate with colleagu
High Awareness, Low Adoption: New Survey Reveals Nearly Half of Security Professionals Still Rely on Passwords7.10.2026 10:01:00 EEST | Press release
A new survey from Yubico (NASDAQ STOCKHOLM: YUBICO), the pioneer of phishing-resistant authentication and creator of the original passkey, the YubiKey, and Okta, Inc., reveals a significant gap between security knowledge and everyday practice. While security leaders overwhelmingly recognize phishing-resistant passkeys as more secure than passwords, nearly half still rely on vulnerable login methods in their daily work. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261007969823/en/ Conducted by Talker Research, the annual 2026 Global State of Authentication* report surveyed nearly 2,000 cybersecurity and IT professionals across nine countries. The report highlights that cybersecurity's primary vulnerability is no longer a lack of education or awareness, but a structural problem driven by operational friction and outdated onboarding defaults. Organizations cannot rely solely on additional security awareness training to resolv
ClaroNav Kolahi Inc. Announces EU MDR Certification for Navient Surgical Navigation System7.10.2026 10:00:00 EEST | Press release
ClaroNav Kolahi Inc. (CKI), a global developer and manufacturer of surgical navigation technologies, today announced that its Navient Surgical Navigation System has received certification under the European Union Medical Device Regulation, EU MDR. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261007890668/en/ ClaroNav Kolahi Inc. Announces EU MDR Certification for Navient Surgical Navigation System The certification covers the Navient Image Guided Navigation System and its reusable surgical instruments, allowing CKI to continue offering Navient throughout the European Union under the EU MDR regulatory framework. “EU MDR certification is an important milestone for CKI and demonstrates our continued commitment to meeting the highest standards for safety, quality, and regulatory compliance,” said Ahmad Kolahi, CEO of CKI. Navient was previously certified under EU MDD and has received regulatory approvals including US FDA, Heal
Yapı Kredi Kripto Selects Integral to Power Digital Asset Trading Services in Türkiye7.10.2026 10:00:00 EEST | Press release
Integral, a leading provider of currency technology, today announced that Yapı Kredi Kripto has selected Integral's digital asset trading technology, enabling the group to provide cryptocurrency services through its soon-to-launch regulated digital asset business. The partnership comes as Türkiye introduces a new regulatory framework for digital asset service providers, creating a regulated environment for financial institutions to expand their offering to customers seeking access to cryptocurrency markets. Yapı Kredi Kripto has implemented Integral's digital asset trading technology across pricing, liquidity and risk management, providing the infrastructure required to deliver a secure and efficient cryptocurrency trading experience to its customers. Integral's established presence in Türkiye was an important factor in Yapı Kredi Kripto's decision. The technology provider has a long-standing track record of delivering resilient FX trading and risk management infrastructure to regulate
CRH to Acquire Aggregate Operations in Denmark and Finland7.10.2026 09:24:00 EEST | Press release
CRH (NYSE: CRH), the leading provider of building materials, today announced that it has signed an agreement to acquire NCC Industry’s operations in Denmark and Finland from NCC AB. NCC Industry develops, produces and sells stone materials and asphalt products for construction and infrastructure projects. In Denmark NCC Industry’s national network of asphalt plants, land and marine based aggregates sites, together with its substantial high-quality reserves, will significantly expand CRH's presence in the market and its exposure to demand from major road, infrastructure and industrial projects. While in Finland NCC Industry’s attractive network of reserve backed hard-rock quarries, backfilling and recycling operations will complement CRH’s existing operations and connected portfolio of businesses in the Finnish market. Peter Buckley, President, CRH International, said: “This acquisition is strongly aligned with CRH’s strategy to build an aggregates-led, connected portfolio aligned with
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom