Shell New Energies has continued its spending spree this week, with the acquisition of UK-based energy technology company Limejump.
The deal comes hot on the heels of Shell agreeing to buy German battery company sonnen earlier this month.
Limejump is a digital energy platform operating in the decentralized energy sector. It manages some of the largest portfolios of batteries in the UK and last year became the first aggregated virtual power plant unit admitted into Britain’s Balancing Mechanism market.
Upon completion of the deal, Limejump will become a wholly-owned subsidiary of Shell and Limejump chief excutive Erik Nygard said: “This is an exciting moment. We are in the middle of a revolution towards a future where many electricity networks around the world are powered by renewable electricity.
“Shell will help us to drive our innovative technology platform to new heights and support the Limejump team to make a bigger impact on the industry than previously possible. This agreement supports our continued mission to revolutionise the energy industry and to put it simply, we are now super-charged and ready.”