Shell New Energies to acquire British energy tech group Limejump

Shell New Energies, part of Anglo-Dutch oil giant Royal Dutch Shell (AMS:RDSA) has agreed to buy UK virtual power plant (VPP) operator Limejump, the latter said on Wednesday.

The London-based energy technology group manages one of the largest portfolios of batteries through its virtual power plant system. Its technology allows smaller renewable energy generators, demand side response (DSR) providers and battery storage units to directly access the Balancing Mechanism market.

Brian Davis, vice president energy solutions at Shell New Energies explained that the acquisition of Limejump will enable the company to provide more options to its UK clients and support its strategy to offer more and cleaner energy solutions.

Financial details on the deal were not provided. Following its completion, Limejump will become a wholly-owned subsidiary of Shell New Energies. The VPP operator will continue working to achieve its three main goals, namely sustainability, maximising revenue streams for all decentralised asset owners, and deploying data science and technology to improve the interconnection between renewable supply, demand flexibility and energy storage.

“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,” said Erik Nygard, CEO of Limejump.

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