Fotech the leader in distributed acoustic sensing, today announced that it has been acquired by Launchpad, BP’s business-builder.
Fotech is an innovative technology company focused on developing and deploying advanced fibre optic sensing targeting the Smart City, Transportation, Energy and Security sectors. It combines cutting edge photonics, advanced AI and edge computing to deliver advanced digital monitoring and asset management solutions
Fotech systems are already monitoring thousands of kilometres of assets, accumulating millions of operational hours in 27 countries. The deal will enable the company to scale global deployment of its technologies into high-growth sectors and accelerate investment in its world-class R&D.
The company was founded in 2008 with an investment from EV Private Equity (EVPE) and Scottish Equity Partners. BP Ventures first invested in the business in 2013.
Chris Shannon, Chief Executive of Fotech, commented: “We are excited to have a new investor at this pivotal point in Fotech’s growth story. Fibre optic sensing solutions have proven themselves invaluable in protecting pipelines, perimeters and borders around the world. Fotech has established itself as a leader in its field and we look forward to accelerating our technology offer.”
Steve Cook, Senior Vice President of bp ventures and bp Launchpad said: “Fotech’s technology has great potential in the security and smart cities sectors and will make a significant contribution in our efforts to advance the energy transition.”
Matt Anstead, Senior Partner at EVPE, added: “We are honoured to have had the opportunity to support Fotech’s talented team and are proud of having helped to create an industry leading company. We look forward to Fotech’s continued commercial success in rolling out distributed acoustic sensing to numerous global markets.”
Threats to the integrity of subsea cables are becoming more sophisticated. But so, too, is DAS cable monitoring technology, as we explore in this blog.
The perimeter security market is set to grow to US$96.5 billion by 2026. So, how do customers navigate the different solutions on offer? Find out in our latest blog.
Fotech launches next generation monitoring and detection solution that allow a faster, cost effective and more systematic deployment in long linear assets such as pipelines and perimeters
Fotech, a bp launchpad company, has signed a non-exclusive MOU with C3SS, a South Africa-based perimeter and infrastructure security company, to target specific African markets