Equinor has exited wind power technology provider Fos4X in an acquisition by PolyTech that followed at least $12.5m in venture funding.
Wind turbine equipment maker PolyTech acquired Fos4X, a Germany-based developer of wind farm optimisation technology, for an undisclosed sum on Wednesday, allowing power producer Equinor to exit.
Spun out of TU Munich (TUM) in 2010, Fos4X markets internet-connected sensors that can be fixed to wind turbines to evaluate their aerodynamic profile, providing data that can be analysed by its software to help optimise turbine performance.
The technology will help PolyTech add digital and data analysis tools to its wind turbine products.
Equinor, Bayern Kapital, Falk Strascheg Holding, High-Tech Gründerfonds (HTGF), Unternehmertum Venture Capital (UVC) Partners and Business Angels provided $10m for Fos4X through a mid-2018 series B round.
Falk Strascheg Holding had already led a $2.5m round for the company in 2015 that included HTGF, Bayern Kapital, UVC Partners and Dr Schulze Holding – the four participants in a round of undisclosed size two years earlier.
The original version of this article appeared on our sister site, Global University Venturing.
