UK-based electrical asset management and smart grid solutions provider EA Technology has secured strategic investment from Norwegian private equity firm Summa Equity.
As energy grids become more complex, operators face mounting pressures to maintain reliability and integrate distributed energy resources, said the company.
EA Technology’s solutions will be critical in supporting this transition, ensuring grids remain resilient, flexible, and sustainable, it added.
Summa Equity partner Gisle Glück Evensen (pictured centre) said: “Transitioning from a fossil fuel-based system to renewables presents a significant challenge to today’s electricity grids, driven by rapidly increasing electricity demand, intermittency and multi-directional flows.
“Solving these challenges is essential to achieve energy decarbonization and presents a multi-generational investment opportunity to upgrade and modernize grid infrastructure.
“By partnering with EA Technology, we aim to accelerate the roll-out of EA’s industry-leading smart grid technology in the UK and internationally, accelerating the transition to a cleaner, more sustainable energy future.”
EA Technology chief executive Robert Davis (left) added: “Our partnership with Summa Equity will help us scale and enhance our offerings, ensuring we remain at the forefront of smart grid technologies.
“This investment aligns perfectly with our mission to support the energy transition and drive innovation in the sector.
“Summa Equity’s focus on sustainability and innovation makes them the ideal partner to help EA Technology expand its reach in existing and new markets.”