Shell has agreed to buy the smart energy firm Limejump for an undisclosed sum.

Upon completion of the transaction, Limejump will become a wholly-owned subsidiary of the Anglo-Dutch oil giant.

Limejump chief executive 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.”

Brian Davis, vice president for energy solutions and Shell New Energies, said: “We are 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, 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.”

Limejump became the first company to enter a “virtual power plant” into the balancing mechanism in August.

Shell bought the mid-sized supplier First Utility in February last year.