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.
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