Raises £25M to Support Global Expansion in Funding Round led by M&G, BGF, and Breakthrough Energy Ventures
Summary
London, 21st May, 2024 Reactive Technologies, the UK and Finland-based leader in grid stability measurements, announced today the successful completion of a Series D funding round. As we deliver more projects to support the global transition to Net Zero, this backing will empower us to deliver at scale, expand our commercial presence internationally, innovate further, and make a real contribution to a clean energy future.This funding round follows Reactive Technologies previous successful funding rounds, including the 2021 investment led by BGF and BEV. This figure is expected to rise significantly as greater measurement data enables National Grid ESO to safely operate with lower levels of stability, aligning with the pursuit of Net Zero. Globally, GridMetrix\xae has the potential to mitigate 1,450 million tons of CO2 annually.The funding announcement comes on the heels of Reactive Technologies successful entry into the US market, with a large-scale demonstration project in New York State in collaboration with multiple utilities. Our investment will support the companys international expansion, potentially transforming how grid systems operate worldwide to reduce unnecessary carbon emissions.The positive experience of our collaboration with Reactive Technologies has been transformative, showcasing the power of direct measurement innovation in advancing the energy transition, said Julian Leslie, Head of Networks at National Grid ESO.