Grid technology innovators Reactive Technologies have raised $15 million from investors to fund expansion.
Based in London and in Oulu, Finland, the company devises data and software-based compensation for the inertia loss inflicted on grids worldwide by the closure of centralised power plants.
As intermittent, dispersed renewables supplant continuous thermal generation, inertia loss can spark blackouts caused by frequency variations and system imbalance.
The firm categorises its proprietary ‘GridMetrix’ system as like ‘sonar’ for the grid, taking direct measurements of inertia, and yielding accurate real-time visibility data to system operators on power network conditions. The data enables grids to safely and cost-effectively increase their renewable energy capacity, while minimising the risk of disruption to grid stability.
Reactive’s announcement comes as it prepares to deliver its first service contract to Britain’s National Grid ESO. The engineer calculates that annual worldwide grid investment dictated by net zero agendas will treble from $260 billion now to $ 820 billion by the end of the decade.
Investors with aggressive carbon-cutting mandates have taken part in the funding round. Breakthrough Energy Ventures invests only in technologies with potential to slash greenhouse gases by at least 1% of global emissions (0.5 gigatons) per year.
Reactive Technologies chair Volker Beckers commented, “This is the result of years of work by our team to develop a leading clean technology business at the heart of the energy transition.
“The fact we have been able to attract such high calibre financial and strategic partners demonstrates a growing awareness around the world of the urgent need for investment in grid stability technologies”.
“This fundraising will enable us to help release the hand-brake on the energy transition and enable power grids to decarbonise safely and economically.”