Octopus Energy Generation, the renewables arm of the UK’s leading green energy supplier, has announced a £200 million investment in London-based tech firm Deep Green in order to rapidly scale its innovative data centre heat exchange model across the country.
Deep Green’s technology tackles the dual challenge of reducing data centre energy consumption and providing cost-effective heating solutions. By extracting excess heat generated by data centre processing, it can be redirected to heat buildings or other facilities like swimming pools.
This investment comes at a time of booming demand for digital services. Since 2010, the number of internet users worldwide has doubled, while global internet traffic has grown 25-fold. Despite this surge, rapid improvements in energy efficiency have helped moderate data centre and network energy demand, which each account for about 1-1.5% of global electricity use.
This win-win solution eliminates the need for expensive cooling systems for data centres and costly heating solutions for buildings, offering significant savings in the face of the ongoing cost-of-living crisis.
The impact is already tangible. A public pool in Devon has slashed its pool-heating bill by over 60% thanks to Deep Green’s system, showcasing the real-world potential of this technology.
“To tackle the energy crisis head-on, we need innovative solutions to unusual problems,” commented Zoisa North-Bond, CEO of Octopus Energy Generation. “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.”
The benefits extend beyond immediate cost savings. Deep Green’s data centres utilise the extracted heat for their own cooling needs, giving them a competitive edge over traditional facilities. This translates to more affordable and energy-efficient computing services for businesses nationwide.
Recent research has suggested that cloud computing and data centres could also be more sustainable options for enterprise networks. Cloud network provider Cloudflare demonstrated a nearly 78% reduction in emissions for a large enterprise that switched from on-site equipment to hosted shared equipment.
OETF launched in 2023 to scale companies in fast-growing sectors decarbonising society, from heating, to storage, low carbon transport and more. Octopus has backed ground-source heat pump company Kensa Group through this fund.
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