- Press Releases
September 17 (Renewables Now) - US renewables investment firm Odyssey Energy Solutions Inc has acquired Ferntech GmbH, a German company specialising in the remote control and monitoring of off-grid renewable energy systems, to strengthen its position as an end-to-end investment and asset management platform.
Berlin-based Ferntech offers a platform for the management, control and maintenance of off-grid solar systems, using hardware and software technologies. The platform uses sensor data that is transferred to a cloud server and a web-based dashboard allows the analysis of the data and the control of several off-grid systems at the same time. The German company claims that the solution helps operators to cut operational and maintenance costs by 30% and reduce downtime while improving productivity by up to 10%.
The acquisition will boost the capabilities of the US company, which focuses on decentralised infrastructure, to work on the development, financing, and operation of distributed infrastructure projects at scale.
Through a web-based data platform, Odyssey facilitates the deployment of microgrids in emerging markets. With headquarters in Colorado and offices in Berlin, Delhi, India, and Lagos, Nigeria, the company is involved in projects worth a total of over USD 900 million (EUR 765.1m).
(USD 1 = EUR 0.850)