Reactive Technologies has secured another tranche of funding, with Norwegian state-owned Equinor investing.
The demand-side response and smart grid company said the funding round was eight digits. It also counts Octopus and RES as strategic investors, while Ingenious Infrastructure invested last October.
Reactive Technologies operates in a number of areas. It is developing services for grid operators to measure and manage inertia, has a demand-side response or ‘optimisation’ platform for corporate energy users, and touts a ‘hybrid’ or enhanced PPA structure for renewable generators.
Reactive CEO Marc Borrett said the company will spend the money on more staff and to “significantly scale up our power purchase optimisation and grid measurement and analytics services to reach renewable generators and system operators globally”.
Equinor is the new name for Statoil.