Octopus Energy’s generation arm has announced a £200m investment in Deep Green, a tech disruptor based in London, to help it scale its innovative technology across the UK. Deep Green provides free heat for energy-intensive organisations like leisure centres by making use of the heat generated by data processing. It offers more affordable, highly energy-efficient computing to businesses across the UK by utilizing free cooling, which provides it with a significant competitive edge over traditional data centres.
Deep Green’s customers require data centre processing for a range of uses including AI, machine learning, video rendering, or cloud applications. This allows it to offer highly efficient and cost-effective computing services. Deep Green data centres can be up and running in a matter of weeks as they are installed on-site and do not require additional grid upgrades or planning permission. 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.
The investment, made via Octopus’ dedicated Octopus Energy Transition Fund (OETF) and the Sky (ORI SCSp) fund it manages, seeks to tackle the energy crisis by finding innovative solutions to unusual problems. The OETF launched in 2023 to decarbonize society through scaling companies in sectors such as heating, storage, low carbon transport and more. Octopus has also supported ground-source heat pump company Kensa Group through this fund.
Zoisa North-Bond, CEO of Octopus Energy Generation, said, “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 implementing this technology and positively impacting even more people as we drive towards a cleaner, cheaper energy future.” On the other hand, Mark Bjornsgaard, Founder and CEO of Deep Green, said, “Placing data centres within the fabric of society transforms the waste heat they produce into a valuable resource that benefits communities,” highlighting the positive impact of Deep Green’s innovative approach.
Octopus Energy’s generation arm has announced a £200m investment in Deep Green, a tech disruptor based in London, to help it scale its innovative technology across the UK. Deep Green provides free heat for energy-intensive organisations like leisure centres by making use of the heat generated by data processing. It offers more affordable, highly energy-efficient computing to businesses across the UK by utilizing free cooling, which provides it with a significant competitive edge over traditional data centres.
Deep Green’s customers require data centre processing for a range of uses including AI, machine learning, video rendering, or cloud applications. This allows it to offer highly efficient and cost-effective computing services. Deep Green data centres can be up and running in a matter of weeks as they are installed on-site and do not require additional grid upgrades or planning permission. 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.
The investment, made via Octopus’ dedicated Octopus Energy Transition Fund (OETF) and the Sky (ORI SCSp) fund it manages, seeks to tackle the energy crisis by finding innovative solutions to unusual problems. The OETF launched in 2023 to decarbonize society through scaling companies in sectors such as heating, storage, low carbon transport and more. Octopus has also supported ground-source heat pump company Kensa Group through this fund.
Zoisa North-Bond, CEO of Octopus Energy Generation, said, “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 implementing this technology and positively impacting even more people as we drive towards a cleaner, cheaper energy future.” On the other hand, Mark Bjornsgaard, Founder and CEO of Deep Green, said, “Placing data centres within the fabric of society transforms the waste heat they produce into a valuable resource that benefits communities,” highlighting the positive impact of Deep Green’s innovative approach.