September 8, 2020
Technology, Industrials and Industrial Technology, Energy
GCA Altium advises fos4X on its sale to PolyTech
GCA Altium has advised the shareholders of fos4X, a Munich-based innovator in fiber optic sensor technology and data analytics, on the sale to PolyTech, a Danish developer and manufacturer of products and systems for OEMs and owners in the wind industry. The acquisition of fos4X strengthens PolyTech’s position as a blade technology specialist.
Founded in 2010, fos4X combines fiber optic sensors, state-of-the-art signal processing and scalable IIoT infrastructure. With its 100 employees and operations in Germany and China, the Company has developed innovative fiber optic sensor technology for the wind industry and registered more than 130 patents to date. The technology developed by fos4X utilises data-driven approaches such as machine learning to digitise and optimise existing and new wind turbines. Its intelligent solutions are used by wind turbines all over the world to optimise their operations.
PolyTech, which has been owned by Verdane Capital since 2016, specialises in solutions that improve the performance and protection of wind turbine blades for newbuild and retrofitting to reduce the overall Levelized Cost of Energy. Its products include lightning protection systems, leading edge protection, blade add-ons and transport solutions. PolyTech is growing rapidly and since 2013 the number of employees has increased from 35 to 700 across its operations in Denmark, China, Mexico and the United States.
Wind turbine rotor blades play a key role in the pursuit of more efficient wind energy production. In recent years, wind turbine producers have achieved immense progress in innovative blade design, crafting blades that are longer, stronger and able to harvest more wind energy than ever before. Enhancing the blades through digital technology and advanced data analysis will allow wind turbine operators to optimise operations and maintenance through intelligent use of real-time data – and that is where the acquisition of fos4X strengthens PolyTech’s expertise.
“As a founder, I could not wish for a better match. As part of PolyTech, our intelligent sensor and software solutions will be further developed and the fos4X vision of abundant clean energy will be driven even more strongly than before,” said Dr Lars Hoffman, CEO of fos4X.
Malte Abrams, Director at GCA Altium, added: “We are truly delighted to have advised the shareholders of fos4X, a disruptive and innovative sensor and data analytics company in the wind industry, on its sale to PolyTech. fos4X and PolyTech have a strong strategic fit and we are convinced that the combined business will continue its successful track record of growth.”
GCA Altium advised all shareholders of fos4X: Bayern Kapital, Equinor Energy Ventures Fund, Falk Strascheg Holding, High-Tech Gründerfonds, UVC Partners, the management team and various business angels.