UK-based Octopus Energy has announced it has bought a majority stake in US grid technology firm Uplight.
The move is aimed at enabling the company to help utilities in North America manage the rapid increase in electricity demand, driven by data centre developments and electrification.
Uplight serves more than 85 utilities across North America and manages more than 8.5GW of flexible load.
It enables households and businesses to actively participate in flexibility programmes, turning distributed energy resources into reliable capacity that utilities can deploy when and where the grid needs it.
The deal is made in partnership with global energy technology firm Schneider Electric, which will remain as a significant minority partner.
The investment gives utilities the tools to modernise their grid operations and strengthen resilience as AI-driven data centres, electrification and distributed energy sharply increase electricity demand across North America.
Nick Chaset, CEO of Octopus Energy US, said: “As energy demand surges in the US, utilities need the tools to deliver reliable and affordable power for their customers. This partnership brings together Octopus’s world-leading expertise in flexibility, Schneider Electric’s grid intelligence and Uplight’s deep relationships with leading US utilities to turn customer participation into dependable grid capacity.
“Together, we can help accelerate the shift to a smarter, more resilient and more affordable energy system.”
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