Reactive Technologies raises $15m to export inertia measurement tool

Reactive Technologies has secured $15 million of investment from BGF, Breakthrough Energy Ventures and Eaton to export its innovative inertia measurement service around the world.

The Grid Metrix technology, which the company described as “sonar” for the power grid, allows the inertia of the electricity system to be accurately monitored in real time by sending out pulses of energy and measuring the effect on frequency.

Inertia refers the resistance of the electricity system to sudden changes in frequency. Reactive Technologies said the ability to accurately gauge inertia enables system operators to accommodate much higher levels of renewable generation without putting the stability of the power grid at risk.

National Grid Electricity System Operator (ESO) began a “world-first” trial of the technology in 2017. Reactive Technologies said it is now preparing to provide the service on a commercial basis after the ESO signed a contract with the company two years later.

At the end of last year, Reactive Technologies awarded a contract for the design and construction of a 5MW supercapacitor at the Wilton International industrial park in Teesside to generate the energy pulses used to measure inertia.

The startup based in the UK and Finland had received a multi-million-pound investment from the Norwegian state-owned energy company Equinor.

Commenting on the latest fundraising, chief executive Marc Borrett said: “Our new financial and strategic partners will help drive a step change in the delivery of our services to system operators globally, accelerating our ability to enable power grids around the world to rapidly decarbonise and meet their net zero objectives.

“With COP26 on the horizon as we approach tipping point in the energy transition, we are proud to be an example of how British and Finnish innovation can help overcome the hurdles to decarbonisation and support the global fight against climate change.”

Reactive Technologies chairman Volker Beckers said: “This is a fantastic moment for Reactive and 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.”

BGF investor Rahul Satsangi said: “In what is a critical year for the energy transition with COP26 conference and the government’s emphasis on the green recovery taking centre stage, we’re delighted to be supporting an innovative clean tech business and management team that is already playing a central role in the decarbonisation of the UK.

“A transformation of the energy sector is essential for the future of our economy and Reactive’s digital-led solutions place it at the heart of that shift both within the UK and globally.”