Octopus Energy Group has today bolstered its plans to create a new technology innovation centre in Manchester with the announcement it has acquired smart grid software specialist Upside Energy. The fast-growing energy supplier and clean tech developer said the purchase of Manchester-based Upside Energy would establish the city as the base of its new technology innovation centre, which was first announced last month during a visit by the Prime Minister and the Chancellor to the company’s London headquarters. The company said the new ‘EnTech’ hub would play “a pivotal role in achieving Octopus Energy’s ambition of making the UK the ‘Silicon Valley of Energy'”. Founded in 2014 Upside Energy is one of a growing band of start-ups working to develop and deploy digital and artificial intelligence (AI) technologies that can automatically balance supply and demand on the grid and help end users take advantage of low cost surplus clean power. The company operates a cloud-based platform that connects with clean energy technologies, such as electric vehicles, heat pumps, and batteries, allowing it to manage those devices to match real-time energy demand and supply. It already boasts utilities and asset owners across the energy industry as clients and Octopus said it now plans to build on the company’s customer base further whilst “rapidly expanding Upside’s capabilities internationally and into the consumer sphere”.
Business Green 3rd Nov 2020 read more »