Octopus Energy’s generation has announced a £200m investment in London-based tech disruptor Deep Green to scale-up its technology.
The tech uses heat from data centres isn’t wasted and is instead used to provide free heat for energy-intensive industries and buildings. For example, by teaming up with Deep Green, a public swimming pool in Devon was able to slash its pool heating bill by more than 60%.
In return, Deep Green gets free cooling which provides it with a competitive edge over traditional data centres, allowing it to offer more affordable, highly energy-efficient computing to businesses across the UK.
The firm’s customers use data centre processing for a range of uses including AI, machine learning, video rendering or cloud applications. Customers include York University, and the company has signed partnerships with industry suppliers Civo and Alces Flight.
Installed on-site, the data centres don’t require additional grid upgrades or planning permission and can be running within weeks.
Zoisa North-Bond, CEO of Octopus Energy Generation said: “To tackle the energy crisis head-on, we need innovative solutions to unusual problems. By using excess heat from data centres to slash energy bills for communities across the UK, Deep Green solves two problems with one solution. We’re looking forward to rapidly rolling this out and positively impacting even more people as we drive towards a cleaner, cheaper energy future.”
Mark Bjornsgaard, Founder and CEO of Deep Green, commented: “We are thrilled with Octopus’s commitment to support our next phase of growth. Placing data centres within the fabric of society transforms the waste heat they produce into a valuable resource that benefits communities.
“The data centre sector is rightly facing scrutiny about its growing energy demand and associated carbon emissions. Our data centres are highly energy efficient and support local communities with free heat.”
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