Odyssey acquires remote monitoring solutions company, Ferntech GmbH

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Odyssey Energy Solutions, Inc. (Odyssey), headquartered in the United States, announced the acquisition of German remote monitoring and control technology company Ferntech GmbH.

This solidifies Odyssey’s position as the leading end-to-end investment and asset management platform for the distributed infrastructure industry. It now supports investors, developers, operators and governments throughout the project lifecycle, adding new capabilities for project operations.

Acquisition of Ferntech GmbH

Emily McAteer, President and CEO (CEO) and Co-Founder of Odyssey Energy Solutions, Inc. said: “We are delighted with the acquisition of Ferntech and the opportunity it presents to expand the toolbox we offer to our customers and users. We have been working successfully with the Ferntech team and their technology for several years.

She adds, “The acquisition significantly advances our mission to enable the streamlined development, financing and operations of large-scale distributed infrastructure projects.

Odyssey, the essential 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 currently facilitating fund flows, which total over US $ 900 million.

Emily McAteer further stated: “Odyssey has proven the value of its platform to catalyze investments in the distributed energy sector. We are delighted to now offer an integrated, industry-recognized 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 require fewer trips to the site and can reduce operation 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 more than 15 countries, on five continents. It is recognized as an innovator in hardware monitoring and analysis, due to its ability to work with almost any technology.

Patrick Cousins, Vice President of Customer Success, Odyssey and former CEO of Ferntech GmbH, said: “Joining the Odyssey family is a fantastic development for us. We know that we work well together and have a common ambition to transform the way we can use data, to evolve low carbon infrastructure at a lower cost.

Towards low carbon infrastructure

Global net zero emissions targets are driving a scramble for low carbon infrastructure. The OECD calculates that $ 6.3 trillion in annual investment in infrastructure is needed until 2030 in energy, transport, water and telecommunications infrastructure to support growth. Decentralized assets are increasingly seen as solutions to cost and resilience issues affecting large, centralized projects.

Emily McAteer concludes: “We are seeing a rapid increase in investments in distributed infrastructure projects and the sector has enormous potential. We’ve built the team and the technologies to make Odyssey’s end-to-end investment and asset management platform exactly what the industry needs to realize that potential.

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