Accenture makes strategic investment in Ingenious-backed, Reactive Technologies
- Forms strategic alliance to help accelerate the commercialisation of grid data for utilities
- Represents the latest addition to the investment portfolio of Accenture Ventures, which focuses on investing in companies that create or apply disruptive enterprise technologies
Accenture (NYSE: ACN), the global professional services company, has today made a strategic investment in Reactive Technologies, an Ingenious-backed company since 2018, that provides power and grid technology to help utilities accelerate the transition to low-carbon energy.
Reactive Technologies implements innovative technology solutions to address the energy industry’s greatest challenges. The firm offers unique measurement and analytics services for grid operators, an energy optimisation platform for corporates and an Enhanced Power Purchase Agreement for renewable generators. Reactive Technologies’ innovative services enable corporates, renewable energy generators and grid operators to actively mitigate rising energy costs, optimise their renewable assets in a non-subsidy environment and gain unprecedented real-time grid visibility, allowing for faster and more cost-effective decision making.
Ingenious’ investment in Reactive Technologies in 2018 was the first for its highly active Infrastructure Ventures EIS Service, which has recently fully deployed with seven subsequent investments in two years following the backing of Igloo Vision, Elmtronics, Shoreline, TeraView, 3D Repo, Winnow and Over-C.
Marc Borrett, CEO of Reactive Technologies, commented: “Through unique measurement technologies, the fundamental challenges of managing grid stability with ever increasing amounts of renewable energy being deployed can now be solved. Through GridMetrix®, critical grid parameters can be captured accurately and continuously for grid operators, transmission or distribution, national or regional. This will enable them to be properly equipped to better manage grid stability risks, save money, invest smarter, and integrate more renewable energy in the power system. Working with Accenture helps us to operate on a global basis with a local presence and support our offering with their full suite of technical and commercial delivery capabilities.”
Commenting on the investment, Neil Forster, CEO at Ingenious, said: “Today’s announcement clearly endorses our investment strategy. We have been delighted to support Reactive Technologies in providing world-leading innovation over the last two years. Reactive Technologies has developed and commercialised a number of compelling solutions for the evolving energy sector and has built a strong intellectual property portfolio. We remain focused on continuing to implement the necessary solutions required as we transition towards a lower carbon energy future.”
Stephanie Jamison, a senior managing director who leads Accenture’s utilities business, said: “As electricity production from wind and solar continues to grow, the share of variable renewables in the production mix is likely to present stability challenges for utilities to balance their grids. We believe Reactive Technologies’ innovative technology solutions can help improve critical decision making by moving from models to measurement. Coupled with Accenture’s experience in the utilities business, our Industry X business’ focus on grid-balancing expertise and our global reach, these services can accelerate the creation of the utility of the future. This type of collaboration is key to helping our clients achieve their sustainability and business goals.”
Reactive is now part of Accenture Ventures’ Project Spotlight, a deeply immersive engagement and investment program that targets emerging technology software businesses to help the Global 2000 embrace the power of change and fill strategic innovation gaps. Project Spotlight offers extensive access to Accenture’s deep domain of expertise and its enterprise clients, to harness human creativity and deliver on the promise of new technology. Through the program, Reactive Technologies will co-innovate with Accenture and its clients at its Innovation Hubs, Labs and Liquid Studios, working with subject matter experts to bring solutions to market more quickly and more effectively.
Reactive Technologies is the latest addition to the investment portfolio of Accenture Ventures, which is focused on investing in companies that create or apply disruptive enterprise technologies.