Reactive Technologies has raised $15 million to expand its international activities and export its GridMetrix technology, which takes direct measurements of electricity grid ‘inertia’ (stability) and providing system operators with accurate real-time visibility over power network conditions.
The funding round was led by the UK & Ireland’s most active investor, BGF, alongside Breakthrough Energy Ventures, and Eaton
Reactive Technologies claimed the Breakthrough Energy Ventures investment as a ‘major validation’ of ites technology, because the company only in technologies with the potential to reduce greenhouse gases by at least 500 Mt per year. Eaton will make a strategic investment, and together with Reactive, will explore opportunities for collaboration on utility market support and future service offerings.
Reactive said it expects to announce further strategic investments as part of a second funding close later in the year.
Carmichael Roberts, Breakthrough Energy Ventures, said: “We need to accelerate the uptake of low carbon technologies to meet surging global energy demand while decreasing emissions as quickly as possible. We see the potential for Reactive to become a significant global player in the decarbonisation of power grids worldwide by enabling greater deployment of renewable resources. BEV identified the business as having a distinctive enabling technology that can be scaled to become an integral part of the response to this global challenge.”
Aravind Yarlagadda, Eaton executive vice president and chief digital officer, commented:
“As the world moves towards a net zero carbon energy system, we see a future where renewables and distributed energy resources steadily replace existing forms of energy as electricity becomes an even more important part of how we power our daily lives. We expect this massive shift to place increasing pressure on grids everywhere and require insights from innovative technology companies like Reactive and proven solutions from their partner ecosystems. Our strategic investment accelerates our ability to provide digital solutions and support our customers in the global energy transition.”
The investment comes as Reactive prepares to deploy its first commercial GridMetrix service contract with UK grid operator National Grid.
Inertia measurement solutions under investigation