London-based power-grid technology company Reactive Technologies has secured €19 million in financing from the European Investment Bank (EIB). The funding will support the company’s efforts to improve Europe’s electricity grid.
The company’s technology is designed to reduce the risk of power outages, lower grid operating costs, and help increase the use of clean energy across Europe.
Reactive Technologies’ platform, GridVerix, provides real-time data on important indicators that show how stable the electricity grid is. This helps operators better understand the condition of the grid.
One of the key measurements is inertia, which is the stored energy in generators that helps the grid handle sudden changes. GridVerix also measures voltage strength and stability across different parts of the power network.
“EIB support comes at a critical moment. The rapid growth of renewable energy and large power consumers such as data centres are making Europe’s grids more complex to manage. By providing real-time measurements of grid stability, GridVerix can help operators keep the system secure, operate more efficiently and reduce costs for consumers,” said Reactive Technologies CEO Marc Borrett.
Founded in 2010 by Dr. Heikki Huomo and Borrett, Reactive Technologies develops grid-enhancing technology. The company focuses on challenges linked to the energy transition, growing electricity demand, and the increasing use of electric power.
As more wind and solar power is added to Europe’s electricity grids, GridVerix can help operators identify potential problems and keep the grid stable. The technology can also support the connection of large electricity users, such as data centres.
GridVerix can also help reduce renewable energy curtailment, which happens when renewable power generation is deliberately reduced. This could help lower some of the costs linked to managing the electricity grid.
The European Investment Bank (EIB) is providing the funding as venture debt, backed by the InvestEU programme. The financing is also part of TechEU, an EIB Group initiative focused on supporting strategic technologies and strengthening Europe’s technology sector.
“Europe needs electricity grids that can keep pace with the rapid growth of renewable energy. Reactive Technologies gives grid operators a much clearer picture of what is happening across their networks in real time. Our financing will help bring this European technology to more markets, reduce the risk of power outages and support the secure integration of more clean power,” said EIB Vice-President Karl Nehammer.
Reactive Technologies is headquartered in London and works with customers around the world. The company has sales and project teams across different regions, with offices on the East and West Coasts of the US, the UAE, and Australia. It also has an R&D centre in Finland.
