Heat recovery in data centers

£200 million investment

15 January 2024, 14:00 |

Jörg Schröper

Octopus Energy Generation has announced a £200m investment in London technology company Deep Green. The aim is to support the development of the future-oriented solution in Great Britain.

Data centers are known to generate a lot of wasted heat. Thanks to Deep Green’s business model, this heat is not lost, but is used to provide free heating to energy-intensive facilities such as swimming pools or for district heating networks. For example, a swimming pool in Devon was able to reduce heating costs by over 60 percent.

In return, Deep Green receives free cooling, giving the company a significant competitive advantage over traditional data centers. This allows Deep Green to offer its partners cheaper, highly energy-efficient computing power.

Deep Green customers use them for a range of applications such as AI, machine learning, video rendering or cloud applications. According to the provider, current users include York University. The company has also partnered with IT service providers Civo and Alces Flight, who provide their users with servant-offering services.

Deep Green’s data centers are installed on-site and do not require additional network expansion or building permits, so they can be up and running in a matter of weeks, the provider continues. The investment will be made through Octopus Energy Generation’s Octopus Energy Transition Fund (OETF) and the Sky fund (ORI SCSp) managed by Octopus Energy Generation.

Zoisa North-Bond, CEO of Octopus Energy Generation, said: “To tackle the energy crisis, we need innovative solutions to unusual problems. Using excess heat from data centers to reduce the energy bills of communities across the UK, Deep Green is solving two problems with one solution. We look forward to quickly introducing this solution and helping more people as we move towards a cleaner, cheaper energy future.”

Mark Bjornsgaard, founder and CEO of Deep Green, commented: “We are very pleased with Octopus’ commitment to support our next phase of growth. By integrating data centers into existing infrastructure, the waste heat they generate is transformed from a problem to a valuable resource that benefits the public. Data centers are rightly viewed critically due to their increasing energy requirements and associated carbon emissions. Our data centers are extremely energy efficient and support local communities with free heating.”

The OETF was launched in 2023 to support companies in fast-growing sectors that are decarbonising society, from heating to energy storage to low-carbon transport. Octopus has already supported geothermal heat pump company Kensa Group through this fund.

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