"Octopus Energy Generation is investing nearly $1bn in Californian clean technology projects, deepening its exposure to the US energy transition and accelerating plans to deploy $2bn across the country by 2030. The funding, channelled through Octopus-managed funds, spans carbon removal, heat battery technology and solar-plus-storage infrastructure, reinforcing the company's strategy of backing next-generation decarbonisation assets in advanced markets. Octopus will support two California-based carbon removal companies focused on grassland restoration and reforestation, converting degraded land into high-quality carbon-absorbing assets."
"Several large technology firms have already agreed to purchase carbon credits from the projects, providing long-term revenue visibility. The investor will also back heat battery technology developed in the Bay Area, aimed at decarbonising hard-to-electrify industrial processes. The systems are designed to replace fossil-fuel boilers with renewable-powered thermal storage, cutting emissions in sectors that have proven difficult to transition. As part of the investment drive, Octopus is acquiring a solar and battery storage project in California."
"The site is expected to be fully operational by July 2026, helping convert the state's abundant solar resource into dispatchable, low-cost electricity. The announcement builds on earlier North American investments, including backing floating offshore wind developer Ocergy and solar projects in Ohio and Pennsylvania. The move comes as Octopus expands its international footprint while maintaining close ties to the UK market."
Octopus Energy Generation is committing nearly $1bn to Californian clean-technology projects through Octopus-managed funds, with plans to deploy $2bn across the US by 2030. Investments include carbon removal via grassland restoration and reforestation, heat battery systems to decarbonise hard-to-electrify industrial processes, and a solar-plus-storage project expected online by July 2026. Several major technology firms have agreed to buy carbon credits from the removal projects, providing long-term revenue visibility. Heat batteries are intended to replace fossil-fuel boilers with renewable-powered thermal storage. The strategy builds on prior North American investments and aims to support UK returns and expertise while expanding internationally.
Read at Business Matters
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