Ferntech Raises Seed Investment from Factor[e] to Bring Visual Programming Control to Microgrids
Funding will Support Development of Microgrid Monitor and Control Platform
13 Mar, 2019, 01:00 ET
BERLIN and FORT COLLINS, Colo., March 13, 2019 /PRNewswire/ -- Ferntech GmbH today announced a seed investment from Factor[e] Ventures to fuel the development of the company's microgrid monitoring and control platform. Ferntech's technology allows microgrid developers to connect components from any manufacturer, monitor a fleet of systems from a single dashboard, and add smart behavior to their grids with simple visual programming tools. These features reduce the cost and complexity of deploying new microgrids and create new possibilities in addressing global access to energy with off-grid and hybrid power systems.
"Current solutions for monitoring off-grid and hybrid power systems were missing a crucial component: the ability to act on the information being collected," said Patrick Cousins, CEO of Ferntech. "Our platform gives operators that capacity, in turn helping ease the burden of maintenance costs and simplifying future deployments."
Ferntech's platform securely centralizes component data onto a single, web-based dashboard. System operators can view the status of their grids and take actions that improve performance and stability. Operators can easily change parameters of connected hardware, create their own control algorithms using Ferntech's visual programming tool, or apply pre-loaded optimizations developed by Ferntech. Unlike other microgrid controllers – which are custom-built and only accessible to skilled programmers – Ferntech has embedded their expertise into a set of intuitive tools for the everyday operator. For example, Ferntech customers can remotely create status-based alerts for on-the-ground agents, enable productive use applications, or intelligently dispatch excess energy to deferrable loads.
"Microgrid developers know what they want their grids to do, but don't have the tools to turn those ideas into reality. Ferntech enables exactly that process," said Dr. Morgan DeFoort, co-founder and Managing Principal of Factor[e] Ventures. "Our investment is based on the thesis that remote monitoring and control is foundational to the future of microgrids, and we're confident that we've picked the best team to create that solution."
Ferntech previously operated as Infinite Fingers GmbH. The total funding amount was not disclosed.
Ferntech has developed a universal controller for off-grid, hybrid, and microgrid power systems. Ferntech's technology makes it possible for developers and operators of these systems to connect components from any manufacturer, monitor a fleet of systems from a single dashboard, and easily program behaviors to improve performance. These features reduce monitoring and maintenance costs and improve returns on grid deployments. For more information, visit https://ferntech.io/.
About Factor[e] Ventures
Factor[e] is a venture development firm with a mission to improve lives in the developing world through increased access to sustainable energy and related services. Factor[e] finds, validates, funds, de-risks, and grows a rich pipeline of social ventures that aim to solve profound global problems, and supports early stage entrepreneurs through a unique blend of risk capital and world-class technical resources. For more information, visit http://www.factore.com.
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