Power Factors, LLC, an industry-leading software provider for monitoring, managing and optimizing renewable energy assets, announced today that it has acquired Ekhosoft Inc., a leader in intelligent operational management software solutions, from Bay4 Energy Services, a leading solar and energy storage asset management company.
“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. Their team of 31 experienced developers and technology specialists has over 450 combined years of experience building custom tools for owners and operators; their development team is second to none. Combining Ekhosoft’s extensive technology knowledge and expertise with Power Factors’ deep subject matter expertise is very exciting,” said Steve Scales, EVP and co-founder, Power Factors.
Scales added, “Power Factors’ mission is to give our customers the tools they need to drive their power plants – drive results, drive their service providers, drive bottom line economics. This acquisition gives us a deep development bench which will continue to innovate and push forward what we believe is already the most fully integrated and robust set of tools in the industry. This acquisition is significant.”
Power Factors’ acquisition of Ekhosoft is the perfect union between two of the most trusted and dominant 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.
“We’re thrilled to be joining forces with Power Factors and very excited to build powerful, reliable and scalable tools for the renewable energy sector,” said Ekhosoft CEO and founder Patrick Ramsey. “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.”
As part of the agreement, Bay4 retains a long-term license to utilize the combined technology platform to deliver its industry-leading asset management, O&M, monitoring, O&M management, engineering and research services.
“Bay4 is very excited about the sale of Ekhosoft to Power Factors,” added Clay Biddinger, chairman and CEO of Bay4 Energy. “Combining these two powerful technology platforms enhances Bay4’s capability to better serve our customers through augmented event management and comprehensive asset performance assessments. We look forward to maintaining a strong and successful long-term relationship with both Ekhosoft and Power Factors.”
“As the renewable energy industry matures, it becomes increasingly critical that monitoring and operating tools be as sophisticated and exacting as possible,” noted Steve Hanawalt, EVP and co-founder of Power Factors. The product we are building together with Ekhosoft solves real problems based on “been there done that” experience. We’re very excited to have Patrick and the Ekhosoft team joining us. Their event management, data curation, and user interface development experience fits perfectly into our overall mission, to give our customer the tools they need to drive performance and bottom line profits.”
News item from Power Factors