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- The partnership will see LG’s heat pumps and air conditioners integrate with Octopus’ proprietary technology platform, Kraken
- The deal will initially launch in the UK and Germany
- Heating is one of Europe’s biggest climate challenges
Octopus Energy has partnered with LG Electronics to bring homeowners affordable, planet-friendly heating and cooling systems across Europe in a bid to cut bills and reliance on fossil fuels.
The partnership will see LG’s heat pumps and air conditioners integrate with Octopus’ technology platform, Kraken, which lets users automatically run devices where energy is cheapest and greenest.
Greg Jackson, founder and CEO, Octopus Energy, the UK’s biggest energy provider, said this “powerful combination” will slash household energy bills, and speed up Europe’s move to net-zero by offering greater flexibility.
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He said that heating is one of Europe’s biggest climate challenges, responsible for around a fifth of carbon emissions.
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“Governments across Europe are backing heat pumps to replace polluting gas boilers, with the UK setting a target of installing 600,000 heat pumps a year by 2028,” he said.
“Octopus is already one of Europe’s biggest installers, fitting thousands of heat pumps every month, and has invested more than £50m into heat pump factories, training centres and R&D”.
The deal was signed in Octopus’ London HQ and will initially launch in the UK and Germany, and will expand into more European markets over time and grow to cover other appliances, as the companies aim to combine LG’s global hardware expertise with Octopus’ software.
“Heat pumps are the linchpin of clean, affordable heating and LG makes some of the best on the market,” Jackson said.
“By plugging them and their air conditioning units into our Kraken tech, we can make them even cheaper to run, giving households an easy way to cut their bills while helping the planet.”
Thomas Yoon, president, LG’s Overseas Sales & Marketing, said the partnership with Octopus Energy represents a “significant milestone” in its European Growth strategy.
“We will continue to explore new opportunities that create differentiated customer value and secure sustainable growth drivers in the global market.”
