Power Factors LLC, a software provider for monitoring, managing and optimizing renewable energy assets, has acquired software developer Ekhosoft Inc. from Bay4 Energy Services, a solar and energy storage asset management company. Terms of the deal were not disclosed.
Steve Scales, executive vice president and co-founder of Power Factors, calls the acquisition “significant.”
“For the past 15 years, Ekhosoft has built powerful event-driven software tools for some of the top energy and industrial customers in the world,” says Scales. “Their team of 31 experienced developers and technology specialists has over 450 combined years of experience building custom tools for owners and operators.”
Power Factors says its acquisition of Ekhosoft unites two software platforms in the clean energy software marketplace – Ekhosoft, with over 15 GW of clean energy power plants, and Power Factors, with over 4.5 GW. Together, over 20 GW of solar and wind projects will run on these software platforms going into 2017.
Ekhosoft CEO and founder Patrick Ramsey says the company is “thrilled to be joining forces with Power Factors.”
“The traditional power industry knows that actionable data is integral to performance, reliability and profitability. Together, we’re focused on pushing this paradigm into the renewable realm,” says Ramsey.
As part of the agreement, Bay4 retains a long-term license to utilize the combined technology platform to deliver its asset management, operations and maintenance, monitoring, engineering and research services. Clay Biddinger, chairman and CEO of Bay4 Energy, says, “We look forward to maintaining a strong and successful long-term relationship with both Ekhosoft and Power Factors.”