19-09-2016

Koch acquires EFT Energy

Koch Technology and Optimization, LLC and Koch Minerals, LLC, both  subsidiaries of Koch Industries, Inc., announced the acquisition of EFT  Energy, a leading software as a service and solutions provider in the  fields of industrial and manufacturing predictive analytics, process  optimization, and industrial and commercial energy management.

EFT’s groundbreaking analytics platform and intuitive visual interface  allow engineers to optimize industrial processes, detect root causes of  unforeseen events, and identify sources of energy savings. With a  drag-and-drop graphical user interface built on a powerful analytics  engine, EFT’s software helps engineers and citizen data scientists  rapidly make new insights into their systems and processes, without  requiring advanced training in programming or statistics.
 
EFT’s cloud-based software platform imports, aggregates, and validates  data from various sources, including Microsoft tools; relational  databases; and real-time data from industrial machinery, sensors,  control systems, and power-consumption monitors. Users create data  models using EFT’s visual interface, and results can be monitored in  realtime through a visual dashboard or returned to a facility’s process  control system. Through machine learning each model becomes more  intelligent over time.
 
“Koch Industries has utilized EFT solutions at numerous facilities  across our diverse portfolio of industrial operations, both for  energy-management and for predictive-analytics applications,” said Brent  Youngers, the new president of EFT. “We are impressed by the dedication  of EFT’s world-class team, the quality of results we get from EFT, and  the ease with which we are able to leverage these insights.”
 
“When our team looked for a partner to help expand our business, we  realized quickly that Koch was an ideal partner for us,” said Craig  Ennis, EFT’s founder and chief technology officer. “Koch’s dedication to  creating value through innovative technologies aligns perfectly with  EFT’s vision of helping companies improve their industrial processes and  optimize their energy consumption, and we are excited about growing this  company together.” To support development and commercialization of  innovative technology companies such as EFT, Koch Minerals, LLC has  launched a new subsidiary, Koch Technology and Optimization, LLC, to  focus resources in industrial technology markets.