Wednesday 27 February 2019

Shell to buy UK energy tech company Limejump

Shell to buy UK energy tech company Limejump

Shell has agreed to buy a UK-based energy technology company Limejump.

The firm manages one of the largest portfolios of batteries through its “virtual power plant” system, which combines demand side response (DSR) and flexible grid management services.

Last year, Limejump was granted approval by Ofgem to compete in National Grid’s Balancing Mechanism market alongside major power plants, becoming the first aggregated unit to do so.

Its technology gives smaller renewable generators, battery storage and DSR providers direct access to the Balancing Mechanism Market, which has largely been dominated by power plants and distribution sites with a generation licence.

Upon completion of the transaction, Limpejump will be a wholly-owned subsidiary of Shell.

Brian Davis, VP Energy Solutions at Shell New Energies said: “We are impressed by the Limejump team and their track record of building a digital energy platform that connects and optimises a diverse range of assets.

“Together, we can offer more choices to our customers in the UK as we accelerate the building of a customer-focused energy system in support of Shell’s strategy to offer more and cleaner energy solutions to customers.”

Written by

Bruna Pinhoni

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