Anglo-Dutch energy major Shell has agreed to acquire UK energy technology company Limejump.
Limejump said the deal had “super charged” the company allowing it to make “a bigger impact on the industry than previously possible”.
The transaction is due to complete later this year, at which point Limejump will become a wholly-owned Shell subsidiary. The price of the transaction was not disclosed.
“We are in the middle of a revolution towards a future where many electricity networks around the world are powered by renewable electricity. Shell will help us to drive our innovative technology platform to new heights,” said Limejump CEO Erik Nygard.
Shell New Energies vice president Brian Davis said the acquisition will help accelerate the Shell’s plans to offer UK consumers more clean energy solutions.
“We are impressed by the Limejump team and their track record of building a digital energy platform that connects and optimises a diverse range of assets,” he said.
Limejump manages one of the largest portfolios of batteries in the world via its Virtual Power Plant.