US-headquartered Odyssey Energy Solutions, Inc. (Odyssey) has announced its acquisition of the German remote monitoring and control technology company, Ferntech GmbH.
This cements Odyssey's position as the distributed infrastructure sector’s major end-to-end investment and asset management platform. It is now supporting investors, developers, operators and governments, across the complete project lifecycle, by adding new capabilities for project operations.
Ferntech GmbH acquisition
Emily McAteer, the Chief Executive Officer (CEO) and Co-Founder, Odyssey Energy Solutions, Inc. said, “We're delighted about the acquisition of Ferntech and the opportunity it presents, to expand the toolkit we offer our clients and users. We've successfully worked with the Ferntech team and their technology for several years.”
She adds, “The acquisition significantly advances our mission to enable streamlined development, financing and operations of distributed infrastructure projects at scale.”
Odyssey, the go-to platform for investors
Odyssey has become the go-to platform for investors and governments
Odyssey has become the go-to platform for investors and governments, making investments in the distributed renewable energy market and is currently facilitating flow of funds, which total over US$ 900 million.
Emily McAteer further stated, “Odyssey has proven the value of its platform to catalyze investment into the distributed energy sector. We are excited to now offer an integrated and industry-renowned product for efficient operations and maintenance.”
Remote monitoring and control solution
Ferntech GmbH’s remote monitoring and control solution includes hardware and software technologies, to collect, analyze, and act on granular system data. Operators need fewer trips to site and can reduce operational and maintenance costs by 30%. Standardized control algorithms also make systems smarter, improving productivity and reducing downtime by up to 10%.
Ferntech GmbH, founded in Berlin in 2016, has deployed its solutions in over 15 countries, across five continents. It is recognized as an innovator in monitoring hardware and analytics, due to its ability to work across nearly any technology.
Patrick Cousins, the Vice President of Customer Success, Odyssey and former CEO, Ferntech GmbH, said, “Joining the Odyssey family is a fantastic development for us. We know that we work well together and have a shared ambition to transform how we can use data, to scale low carbon infrastructure at a lower cost.”
Move towards low carbon infrastructure
Global net-zero emissions targets are driving a rush into low carbon infrastructure. OECD calculates that US$ 6.3 trillion of annual investment in infrastructure is needed, until 2030, in energy, transport, water, and telecommunications infrastructure, to sustain growth. Decentralized assets are increasingly seen as solutions to the cost and resilience issues that affect large, centralized projects.
Emily McAteer concludes, “We are seeing a rapid increase in investment in distributed infrastructure projects and the sector has enormous potential. We have built the team and technologies required to make Odyssey's end-to-end investment and asset management platform, exactly what the sector needs to achieve this potential.”
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