Reactive Technologies, a power-grid technology company co-founded in the UK and Finland, has received €19 million in funding from The European Investment Bank (EIB) to promote its technology platform. The platform, GridVerix, aims to reduce the risk of electricity outages, lowering grid operating costs and increasing the supply of clean energy in Europe.

GridVerix is designed to provide real-time measurements of key indicators of grid stability, including inertia – stored kinetic energy in generators that helps the system withstand sudden disturbances – as well as the strength and stability of voltage across different parts of the grid. As more wind and solar power is connected to Europe’s grids, GridVerix was built to help operators identify vulnerabilities and keep the system stable while integrating more renewable energy and connecting large electricity users such as data centres. It can also help reduce renewable energy curtailment – the deliberate reduction of electricity generation – and the associated costs for consumers.

“Europe needs electricity grids that can keep pace with the rapid growth of renewable energy,” said EIB Vice-President Karl Nehammer. “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.”

Of the €19 million EIB loan, up to €7 million will support R&D activities at Reactive Technologies’ centre in the central Finnish city of Oulu, while €12 million will support deployment of the technology in the European Union.

The EIB support takes the form of venture debt, a type of long-term financing designed for innovative, high-growth companies that can provide additional capital without the same ownership dilution as raising equity.

“EIB support comes at a critical moment,” said Reactive Technologies CEO Marc Borrett. “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.”

On the heels of the funding, Reactive Technologies also just announced the launch of Nyquist, a new technology partnership programme that aims to open access to selected technologies through the company’s work with power system operators and utilities worldwide. Nyquist is designed to let partners access and integrate technologies from Reactive’s patented edge-to-cloud AI foundation, encompassing high-fidelity measurement and waveform capture, precise time-synchronisation, digital signal processing, edge AI, connectivity, data infrastructure and grid analytics.