London’s Reactive Technologies secures €19 million EIB financing to strengthen Europe’s power grids
Reactive Technologies, a London-based power-grid technology company, has secured €19 million in financing from the European Investment Bank (EIB) to promote its platform, which aims to reduce the risk of electricity outages, lower grid operating costs, and increase the supply of clean energy in Europe. The company states that its platform, GridVerix, provides real-time measurements […] The post…
London's Reactive Technologies has secured €19 million in financing from the European Investment Bank (EIB) to bolster its power-grid technology and enhance Europe's energy infrastructure. The company's platform, GridVerix, offers real-time measurements of crucial grid stability indicators such as inertia and voltage strength, enabling operators to maintain system security and efficiency.
With the rapid expansion of renewable energy sources and large consumers like data centers, European grids are becoming increasingly complex. Reactive Technologies' CEO, Marc Borrett, emphasized that the EIB support is vital as the company aims to integrate more renewable energy and support large electricity users. The EIB financing comes in the form of venture debt, backed by the InvestEU programme and TechEU, an initiative to accelerate investments in strategic technologies and strengthen Europe's technological competitiveness.
The company plans to allocate up to €7 million for research and development in Oulu, Finland, and the remaining €12 million towards deploying GridVerix across the European Union. Reactive Technologies, headquartered in London, has sales and project delivery teams operating globally, and an R&D center in Finland.
Written by urgent.news from EU-Startups's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
