Tech unicorn, Octopus Energy Group, has announced the acquisition of Upside Energy, a leading energy software company based in Manchester. The move establishes the base of UK energy pioneer, Octopus’s new technology innovation centre, first announced during a visit by the Prime Minister and the Chancellor to the company’s London office.
The new energy technology (EnTech) hub will play a pivotal role in achieving Octopus Energy’s ambition of making the UK the ‘Silicon Valley of Energy’. It will help develop the smart grid technologies required for a green energy system and the electrification of transport and heating. Octopus Energy’s teams in Manchester, London and Silicon Valley will work closely together to help deliver digital solutions which automatically warm homes and charge cars when energy is greenest.
Upside Energy was founded in 2014 with a vision to enable people to make greener energy choices. Its cloud-based platform 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. This helps to balance the grid and enables customers to capitalise on cheaper, greener power. Upside has established an impressive customer base with both utilities and asset owners across the energy industry which Octopus plans to build on whilst rapidly expanding Upside’s capabilities internationally and into the consumer sphere.
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