Octopus Energy invests in UK-based data center business

British renewable energy group Octopus Energy has invested £200 million in UK-based data center business Deep Green which specializes in siting small data centers near locations that need waste heat.

Zoisa North-Bond, CEO of Octopus Energy Generation, said, "To tackle the energy crisis head-on, we need innovative solutions to unusual problems. By using excess heat from data centers 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.”

Mark Bjornsgaard, founder and CEO of Deep Green, added, “We are thrilled with Octopus’s commitment to support our next phase of growth. Placing data centers within the fabric of society transforms the waste heat they produce into a valuable resource that benefits communities." He added on LinkedIn that this deal would enable the company to build "hundreds of Edge data centers within pools and district heating systems."