Shell has agreed to acquire UK technology company Limejump Ltd in order to support the UK’s transition to a lower carbon future.
Upon completion, Limejump will become a wholly owned subsidiary of Shell. The company is an award-winning digital energy platform, providing optimised routes to market for customers with electricity generating or consuming assets in the UK. It also manages one of the largest portfolios of batteries in the world through its Virtual Power Plant.
“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” said Erik Nygard, CEO of Limejump. “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.”
Brian Davis, VP Energy Solutions at Shell New Energies, added that the company has been 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, the two companies can offer more choices to customers in the UK as they accelerate the building of a customer-focused energy system in support of Shell’s strategy to offer more and cleaner energy solutions to customers.
The acquisition follows Shell’s acquisition of German battery storage company Sonnen, as reported by REM. According to Nygard, speaking to Current recently, Limejump’s reputation will benefit from the deal in the same way that acquisition by BP has benefitted Lightsource (now Lightsource BP). Nygard told Current that the acquisition removes a lot of friction and will help Limejump to really scale and provide solutions to customers. What is of greater interest perhaps, according to Current, is that all of the main oil & gas majors have now established some kind of clean energy interest, even if only in R&D or innovation, as the major companies compete for space in the new clean energy market.
Limejump will continue to focus on its three main objectives: paving the way to a more sustainable energy future; maximising revenue streams for all decentralised asset owners; and utilising data science and technology to enhance the interplay between renewable supply, demand flexibility and energy storage.