Octopus Energy’s generation arm has revealed a £200 million investment in London-based tech disruptor Deep Green, aiming to expedite the widespread adoption of its innovative technology throughout the UK.
Processing data generates a lot of heat. The innovative approach introduced by Deep Green ensures that this heat is not wasted but utilized to offer complimentary heating for energy-demanding establishments such as leisure centers. Through collaboration with Deep Green, a public swimming pool in Devon managed to reduce its pool-heating expenses by more than 60%.
In return, Deep Green gets free cooling which provides it with a significant competitive edge over traditional data centres. This allows it to offer more affordable, highly energy-efficient computing to businesses across the UK.
Deep Green’s customers require data centre processing for a range of uses including AI, machine learning, video rendering or cloud applications. Deep Green’s current customers include York University, and the company has signed partnerships with industry suppliers Civo and Alces Flight who offer the servers to their customers.
Installed on-site, Deep Green data centres don’t require additional grid upgrades, or planning permission and can be up and running in a matter of weeks.
The investment is made via Octopus’ dedicated Octopus Energy Transition Fund (OETF).
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.”