US-headquartered Odyssey Energy Solutions, Inc has announced its acquisition of the German remote monitoring and control technology company, Ferntech GmbH.
Emily McAteer, CEO and Co-Founder, Odyssey, 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. The acquisition significantly advances our mission to enable streamlined development, financing, and operations of distributed infrastructure projects at scale.”
McAteer added, “Odyssey has proven the value of its platform to catalyse investment into the distributed energy sector. We are excited to now offer an integrated and industry-leading product for efficient operations and maintenance.”
Ferntech, founded in Berlin in 2016, has deployed its solutions in over 15 countries across five continents.
Patrick Cousins, VP Customer Success, Odyssey and former CEO, Ferntech, said, “Joining the Odyssey family is a fantastic development for us. We know 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.”
McAteer concluded, “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.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.