Hiber is restarting their business following the acquisition by FC Space, a 100% subsidiary of Finch Capital.
Following the acquisition, the company will focus on HiberHilo, which provides an easy-to-install, end-to-end, IoT solution for monitoring remote wells anywhere on Earth using reliable and affordable satellite connectivity for the Energy industry. HiberHilo serves several of the top 10 global Oil & Gas majors and has signed in the last weeks two additional new contracts and has activities now in all continents.
HiberHilo started as a joint venture between Hiber and WTS. Per a July 1, 2023, the Joint Venture will be transformed into a standalone company when the transfer of all relevant assets and employees of Hiber and WTS into the company has been completed.
The company continues to be led by its two Managing Directors — Erik Boertje and Simon Philipsen. Key shareholders following the restructuring are WTS and FC Space, who both provided additional funding to ensure the company is well capitalized and can accelerate its growth and continuous product development.
“We are very excited to be able to have One Team for One Company with a laser sharp focus. This focus on the further development and roll outs of our Well Integrity IoT Monitoring service is great and very well received by both our Engineers, Developers and Global Sales team and by our clients. We are currently working with 7 of the major Energy companies around the world. We are proud to be supplying this Environmental and Integrity IoT monitoring Technology to prevent well integrity issues and contribute to safer and cleaner operations for our clients in remote locations.” — Erik Boertje & Simon Philipsen, Managing Directors HiberHilo.
“We are very excited to continue the journey Hiber embarked on together with WTS and support the team. We have been very impressed with the growth under the leadership of Erik, Simon and team and the product market fit they found in the Energy industry to help them on the energy transition. We remain committed to supporting the company with capital and our network to scale to the next level.” — Radboud Vlaar, Managing Partner Finch Capital.
“Well Integrity Monitoring in Remote locations is a very important focus for the Oil & Gas industry. Especially in remote locations where there are many unconnected wells, satellite enabled Well Monitoring is the best solution to get near real time data from the Wells and Pipelines. This prevents integrity and associated HSE problems. Many of our Global Clients have embraced the HiberHilo technology, including LoRaWAN, and are now in various stages of rolling out the Hiber Hilo Services for Integrity Monitoring in Africa, Middle East, Asia, and the Americas.” — Frederik Rengers, Chairman of WTS Energy.