Shell has continued its spending spree in the clean energy space, this time acquiring London-based energy tech firm Limejump.
Limejump confirmed the deal this afternoon, claiming that it stood to “super-charge” its business and enable Limejump’s technology and management to support the UK’s clean energy transition.
Limejump is to become a wholly owned subsidiary of Shell upon completion and Erik Nygard, chief executive at the firm, described the deal as an “exciting moment”.
“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,” he said.
The acquisition originates from Shell’s New Energies division, the same unit which acquired German battery storage manufacturer sonnen earlier this month.
Brian Davis, VP for energy solutions at Shell New Energies, said the firm was impressed by Limejump’s team and track record of developing its digital energy platform.
“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,” he added.
The move is also representative of a continued interest in energy technology firms with interests in the aggregator or demand side response sector, after France’s Engie acquired a majority stake in KiWi Power in November last year.