Accelerating Carbon Abatement

Uplight and Octopus Energy Group announced that Octopus has completed a strategic investment giving it a majority stake in Uplight, which will continue operating as an independent company focused on customer-centric flexibility management. The deal supports Uplight's next growth phase, including goals of delivering $1 billion in customer savings and more than doubling flexible capacity to 20 GW within five years. Nick Chaset, who leads Octopus Energy US across retail electricity and flexibility services, has been appointed CEO of Uplight alongside that role, bringing direct experience in the grid flexibility models Uplight builds with utilities. The partnership will introduce two Octopus products into Uplight's suite: Octopus Shift, a customer engagement app making its US debut that simplifies enrollment in utility flexibility programs, and Octopus PowerStore, which deploys residential battery storage with no upfront cost to customers. Existing investor Schneider Electric continues its backing alongside Octopus. Uplight currently manages 8.5 gigawatts of flexible load across more than 85 utilities, including eight of the ten largest in the country, and the companies say the investment will accelerate grid modernization and the energy transition by turning distributed energy resources into reliable, cost-effective capacity... Click below to read more