UK-based smart grid company Reactive Technologies provides analytics to grid companies, which allow them to speed up the integration of green power generation and power purchase agreements (PPA’s) for renewables.
Equinor Energy Ventures joins the company’s board as a strategic investor.
Co-founder and CEO Marc Borrett said: “The additional funds enable us to expand our team of energy and communications engineering experts and to significantly scale up our power purchase optimisation and grid measurement & analytics services to reach renewable generators and system operators globally.”
Gareth Burns, managing director of Equinor Energy Ventures, and vice president at Equinor and Managing Director at Equinor noted: “Equinor has decided to be part of Reactive’s ambitious journey because of the uniqueness and scalability of its offering and the complementarity it brings to our renewable portfolio. Reactive has developed a unique technology to monitor the power grid using real time analytics which combined with the power trading team creates the potential to accelerate the energy transition.”