Octopus Energy
UK House, 5th Floor, 164-182 Oxford Street, London, W1D 1NN, United Kingdom
Overview
Octopus Energy builds technology that reduces the cost of energy, improves customer experience, and paves the way to a cheaper, greener, smarter grid. The company provides an easy, affordable energy option for Great Britain's businesses. Octopus Energy was established in 2015 as a subsidiary of Octopus Group, a British asset management company.
- Total investments
- 2
- Lead investments
- 1
- Investments · 12mo
- 0
- Active investors
- 9
Sector focus
- CleanTech
- Energy
- Energy Efficiency
- GreenTech
- Renewable Energy
Investment portfolio
- Deep Green
Led · Equity · Jan 2024
Deep Green deploys datacenters "in the community," placing servers submerged in dielectric-fluid tanks that transfer heat via heat exchangers into a host site's hot water system. Hosts such as swimming pools or district heating networks receive free heating while Deep Green gains free cooling for its IT hardware; the company covers installation, maintenance and operating costs so there is no cost to the host. The company has operated this business model for at least a year, including a deployment at Exmouth Leisure Centre where a dozen servers were used to warm a pool, cutting the pool's energy requirements by 62% and saving more than £20,000 annually. Octopus Energy, via its Octopus Energy Generation arm, is providing £200 million through the Octopus Energy Transition Fund (OETF) and the Sky (ORI SCSp) fund it manages to help scale deployments. That backing should enable Deep Green to deploy in between 100 and 150 more swimming pools, and the company is pursuing larger-scale schemes such as linking datacenters to homes for district heating. A London scheme announced last year would connect 10,000 new homes in Hammersmith and Fulham and Brent and Ealing to nearby datacenters to use their waste energy for heating.
- Xlinks
Participated · Equity · Nov 2023
Xlinks is developing the Morocco-UK Power Project to generate 11.5 GW of zero-carbon electricity from solar and wind and deliver 3.6 GW of reliable energy for an average of 19+ hours a day. The project couples large-scale generation with a 22.5 GWh/5 GW onsite battery to provide near-constant, flexible clean power to Great Britain. Electricity will be transmitted exclusively via approximately 3,800 km of HVDC subsea cables and is expected to supply enough power for over 7 million British homes and around 8% of Great Britain’s electricity once complete. The company aims to deliver low-cost, reliable renewable power by the end of the decade and to complement the UK grid’s existing renewables. Xlinks First Limited was founded in 2019 in the United Kingdom and is backed by strategic energy investors.