We use cookies
To help provide you with a good experience on our website. By continuing to browse the website, you are agreeing to our use of cookies.

Octopus invests £200m into Deep Green’s pioneering data centre heat re-use technology


Octopus invests £200m into Deep Green’s pioneering data centre heat re-use technology

Octopus Energy’s generation arm today announces a £200 million investment in London-based tech disruptor Deep Green to help it rapidly scale its groundbreaking technology across the UK.

Source: Octopus Energy

Processing data generates a lot of heat. The revolutionary business model pioneered by Deep Green means this heat doesn’t go to waste and instead is used to provide free heat for energy-intensive organisations like leisure centres. By teaming up with Deep Green, a public swimming pool in Devon was able to slash its pool heating bill by over 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 in, for example swimming pools, don’t require additional grid upgrades or planning permission so can be up and running in a matter of weeks.

The investment is made via Octopus’ dedicated Octopus Energy Transition Fund (OETF) and the Sky (ORI SCSp) fund it manages.

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.

Zoisa North-Bond, CEO of Octopus Energy Generation

OETF launched in 2023 to scale companies in fast-growing sectors decarbonising society, from heating, to storage, low carbon transport and more. Octopus has also backed ground-source heat pump company Kensa Group through this fund.

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.

Mark Bjornsgaard, Founder and CEO of Deep Green

Relevant news

Lhyfe has been awarded a €11m grant from Klimatklivet for its green hydrogen project in Sweden
Learn about Lhyfe Trelleborg and their new plant that will produce green hydrogen.
Adani green energy becomes Indias first to surpass 10000 MW renewable energy
Adani Green Energy Limited has surpassed 10,000 megawatts (MW) of operational portfolio, delivering reliable, affordable, and clean power to the national grid.
DESNZ announces eleven new major hydrogen projects in the UK
Eleven new hydrogen projects helping to UK towards net zero ambitions.
Lummus and Braskem announce partnership for green ethylene technology
Partnership focuses on global licensing of commercial green ethylene technology.
Shell unveils UK green investment plans
Shell UK has unveiled plans to invest up to £25bn in the country's energy system over the next 10 years.
OMV Petrom has completed the first photovoltaic park that supplies green energy for its own operations
OMV Petrom commissioned its first photovoltaic park.