Reactive Technologies, a leading UK-based smart grid and demand-side response (DSR) company, has announced the successful conclusion of its latest funding round, accepting an offer from Octopus Capital Limited (Octopus).
Octopus manages a distributed energy generation portfolio worth c.£1.8 billion and brings together managed generation assets, a digital energy supply business and cutting edge technology enabling smarter energy management.
Chris Hulatt, co-founder of Octopus commented: “At Octopus, we look to invest in areas where we can really make a difference. Reactive Technologies is at the heart of changing the way energy is managed and addresses some of the energy sector’s biggest challenges. Our investment represents a strategic decision for Octopus, supporting our existing assets and building on our position as one of the UK’s largest investors in the renewable energy sector.
"We look forward to working closely with the Reactive Technologies team to support our shared focus on a smarter solution to energy generation and supply.”
Estimates suggest that by adopting ‘smart power’ solutions, UK consumers could save £8 billion annually by 2030, while helping the country to meet its carbon targets. While these figures apply to the UK, the same structural changes are affecting energy markets across the world, which offers Reactive substantial growth potential.
Dr Jens Madrian, chief financial and commercial Officer, Reactive Technologies said “This investment will enable us to increase our commitment to the UK and continue our international expansion, develop our technology solutions and commercial activities to deliver real scale and opportunity in the energy industry. To that end we are actively recruiting into our teams now.”