The venture arm of Equinor has joined the board of UK technology company Reactive Technologies as a strategic investor.
Reactive Technologies is commercialising measurement and analytics services that can be used by grid operators and deployed by renewables operators for enhancing power purchase agreements (PPAs).
The additional funds will enable Reactive to expand its team of energy and communications engineering specialists and scale up its power purchase optimisation and grid measurement and analytics services.
Equinor Energy Ventures managing director Gareth Burns 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.”
Reactive has a series ‘c’ funding round underway. Investors include Ingenious, Octopus and RES.