The MOU signing ceremony took place at Octopus Energy’s London headquarters. Attendees included Thomas Yoon, head of LG’s Overseas Sales & Marketing Company; Charles Choi, managing director of LGEUK; Greg Jackson, founder and CEO of Octopus Energy; and Tim Heal, Chief Strategy Officer at Octopus Energy. Image: Octopus Energy.
A partnership between LG Electronics and Octopus Energy Group will combine advanced, high-efficiency heating and cooling solutions with the AI-driven energy software platform, Kraken.
Through the collaboration, the partners will launch a joint solution that integrates LG’s high-efficiency heat pumps with the Kraken platform in key European markets, including the UK and Germany.
The combined solution is designed to optimise home heating and cooling while lowering energy costs for consumers.
Octopus Energy is the UK’s largest energy supplier and is spearheading the adoption of heat pumps as sustainable alternatives to gas boilers. Its proprietary Kraken platform enables consumers to optimise energy usage through real-time renewable pricing.
LG’s heat pumps utilise waste heat and ambient energy sources for efficiency while reducing carbon emissions compared to fossil fuel-based systems. Powered by LG’s proprietary CoreTech inverter scroll compressor, LG says the systems deliver exceptional durability, safety and energy performance.
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Commenting in a release was Greg Jackson, founder and CEO of Octopus Energy: “Heat pumps are the linchpin of clean, affordable heating – and LG makes some of the best on the market.
“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.”
“This partnership with Octopus Energy Group represents a significant milestone in our European growth strategy,” said Thomas Yoon, head of LG’s Overseas Sales & Marketing Company.
“We will continue to explore new opportunities that create differentiated customer value and secure sustainable growth drivers in the global market.”
Additionally, LG believes that the strategic partnership enables them to expand their presence in Europe’s clean tech sector. Looking ahead, the companies also plan to expand the partnership across additional products and markets.
