EIB Provides €19 Million for GridVerix Expansion
EIB financing for Reactive Technologies provides €19 million to develop and deploy GridVerix grid monitoring technology across the EU.
The European Investment Bank will provide €19 million in venture debt to Reactive Technologies to support its GridVerix power-grid monitoring platform. The financing includes up to €7 million for research and development at the company’s Oulu, Finland, center and €12 million for technology deployment across the European Union. Reactive Technologies, co-founded in the UK and Finland, says its platform gives grid operators real-time measurements of stability indicators as renewable generation and large electricity users are added to networks. The operation is backed by the InvestEU program and contributes to the EIB Group’s TechEU initiative.
Real Time Grid Measurements
GridVerix measures grid inertia, the stored kinetic energy in generators that can help a system withstand sudden disturbances, along with voltage strength and stability in different parts of a network. The platform is intended to help operators identify vulnerabilities, reduce the risk of outages and manage grids as more wind and solar capacity comes online.
The technology can also support connections for large electricity users, including data centers. Reactive Technologies says better visibility can reduce renewable energy curtailment, where power generation is deliberately reduced, and the associated costs for consumers.
Karl Nehammer, EIB Vice-President at the European Investment Bank, said:
“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.”
Venture Debt for Deployment
The EIB support takes the form of venture debt, a long-term financing option for innovative, high-growth companies. The structure can provide capital without the same ownership dilution that can result from raising equity.
For Reactive Technologies, the funding is directed at both product development in Finland and broader deployment within the EU. The company’s stated focus is grid stability and reliability data for grid operators, utilities and asset owners.
Marc Borrett, Chief Executive Officer at Reactive Technologies, said:
“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.”
Support for European Grid Investment
The financing is supported by InvestEU, the EU program for mobilizing public and private investment. It also contributes to TechEU, the EIB Group initiative focused on investment in strategic technologies and European technological competitiveness.
The loan covers a material part of Reactive Technologies’ investment program, supporting research and development at its Oulu center and deployment of GridVerix technology in the European Union.
