Octopus Energy, the UK’s largest energy supplier, has announced a partnership with South Korean electronics manufacturer LG Electronics to expand the use of heat pumps and air conditioning systems across Europe.
The agreement will see LG’s heating and cooling technology integrated with Octopus’s Kraken platform, which can automatically run devices when energy is cheapest and has a low carbon footprint. The companies say this will help households reduce energy costs and cut reliance on fossil fuels.
Heat pumps and climate targets
Heating is responsible for around 20% of Europe’s carbon emissions. Governments are promoting heat pumps as a replacement for gas boilers, with the UK aiming for 600,000 installations per year by 2028.
Octopus Energy is one of Europe’s largest heat pump installers and has invested more than £50 million in factories, training centres, and research and development.
The partnership will launch in the UK and Germany before expanding into other European markets. Over time, it will also cover a wider range of household appliances.
Industry comments
“Heat pumps are the lynchpin of clean, affordable heating, and LG makes some of the best on the market,” says Greg Jackson, founder and CEO of Octopus Energy.
“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 of LG’s Overseas Sales & Marketing Company, adds, “This partnership with Octopus Energy Group represents a significant milestone in our European growth strategy.
“We will continue to explore new opportunities that create differentiated customer value and secure sustainable growth drivers in the global market.”
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