Shoosmiths has advised Octopus Energy Group Holdings Limited, wholly owned subsidiary of Octopus Capital Limited (Octopus), on its investment into specialist intelligent energy management technology firm, Reactive Technologies Limited (Reactive).
Reactive leverages its deep expertise in communications engineering to bring a suite of new technologies to the market that will positively assist the energy industry to deliver cleaner, greener and more affordable energy, through more efficient and effective energy management.
Reactive's innovative, cloud-based solution for Corporate customers, Tradenergy®, enables the remote control and optimisation of electrical assets at scale unlocking flexible demand that can be used to balance electricity networks and generate revenue for corporate customers. Reactive's innovative approach to cloud-based demand side response, reactive power management, frequency response and remote control and measurement of grid-connected assets enable industrial and commercial energy users, network operators and distributed power generators to mitigate cost and operational risks.
The investment in to Reactive Technologies is a strategic investment for Octopus to augment its existing energy supply business and energy investment activities.
Octopus manages a distributed energy generation portfolio worth c.£1.8bn, comprising solar, wind, anaerobic digestion, biomass, landfill gas and reserve power assets.
Shoosmiths corporate partner Alastair Peet and associate Alistair Hammerton advised on all corporate aspects of the deal with IP and technology advice from partner Andy Brennan and solicitor Imogen Francis.
Sam Goss, investment director, Octopus Energy, said: 'Octopus works with Shoosmiths on a number of deals across the business and we are very pleased with the advice we receive from the team. In particular, their longstanding experience in operating in the venture capital space was critical to us getting the deal done.'
Chris Hulatt, co-founder of Octopus commented: 'At Octopus, we look to invest in areas where we can really make a difference. Reactive Technologies is at the heart of changing the way energy is managed and addresses some of the energy sector's biggest challenges. Our investment represents a strategic decision for Octopus, supporting our existing assets and building on our position as one of the UK's largest investors in the renewable energy sector. We look forward to working closely with the Reactive Technologies team to support our shared focus on a smarter solution to energy generation and supply.'
Shoosmiths' Alastair Peet, commented: 'Octopus is a true innovator in this sector, looking to new technology to create an energy business fit for the 21st century. We were very pleased to advise Octopus, on this important, strategic investment for their renewable energy team.'
Shoosmiths' corporate team advises public and private companies, management teams, investors and debt providers through the business life cycle. Shoosmiths work with businesses from start-up and first round finance through to mergers and acquisitions, MBO and MBI transactions, development funding and on exits, by way of sale, listing or private equity investment.
Nationally, the corporate team is ranked in joint first place by deal volume in Experian's UK Deal Review and Advisor League Table. The team was recognised for its mergers and acquisitions expertise at the 2015 M&A Awards, winning the Law Firm of the Year category.