Reactive Technologies has won funding from the venture arm of Equinor (the Norwegian energy company previously known as Statoil) as a strategic investor. This is the latest development in Reactive’s major Series C funding round after Ingenious joined existing investors Octopus and RES in October.
Reactive Technologies offers measurement and analytics services for grid operators and technology-led power purchase agreements for renewable generators. Marc Borrett, chief executive and co-founder at Reactive Technologies 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, vice president in Equinor and managing director at Equinor Energy Ventures, said: “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.”
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