LG and Octopus Energy unite to drive the future of clean energy in Europe
Collaboration to integrate LG's high-efficiency heat pumps with Octopus Energy Group's AI-based Kraken platform.
LG Electronics (LG) signed a memorandum of understanding (MOU) with Octopus Energy Group Ltd. (Octopus Energy), a UK-based company, to strengthen its presence in the clean technologies sector in Europe. The collaboration will combine LG's advanced high-efficiency heating and cooling solutions with Kraken, the AI-based energy software platform from Octopus Energy, to accelerate the transition to sustainable energy in Europe.
Octopus Energy is the largest energy provider in the UK and drives the transition towards a decarbonized future with innovative clean energy solutions. The company supplies electricity and gas, and leads the adoption of heat pumps as sustainable alternatives to gas boilers. Their patented platform, Kraken, allows consumers to optimize energy consumption by pricing renewable energies in real time. Since its foundation in 2016, Octopus Energy has expanded to over 30 countries and currently serves around 10 million customers worldwide.
Thanks to this collaboration, LG and Octopus Energy will launch a joint solution that integrates LG's high-efficiency heat pumps with the Kraken platform in key European markets, such as the UK and Germany. The combined solution is designed to optimize home heating and cooling, while reducing energy costs for consumers. Looking ahead, both companies plan to extend the collaboration to other products and markets, leveraging their complementary strengths to offer greater value to customers.
LG's cutting-edge heat pumps leverage residual heat and environmental energy to deliver exceptional efficiency, while significantly reducing carbon emissions compared to fossil fuel-based systems. Powered by LG's proprietary CoreTech scroll inverter compressor, the systems offer exceptional durability, safety and energy performance.
Follow us on: 
This strategic alliance allows LG to consolidate its proven expertise in high-efficiency heating and cooling solutions, strengthen its brand presence in Europe, and further expand its global presence in the clean technology sector.
Greg Jackson, founder and CEO of Octopus Energy, stated: "Heat pumps are the key to clean and affordable heating, and LG manufactures some of the best on the market. By integrating them, along with their air conditioning units, with our Kraken technology, we can further reduce their operating costs, offering households a simple way to reduce their bills and at the same time, contribute to the planet".
"This collaboration with Octopus Energy Group represents a significant milestone in our European growth strategy," declared Thomas Yoon, Director of International Sales and Marketing at LG. "We will continue to explore new opportunities that generate differentiated value for the customer and ensure sustainable growth drivers in the global market."
The MOU signing ceremony took place on August 28 (local time) at the Octopus Energy headquarters in London. Among the attendees were Thomas Yoon, Director of International Sales and Marketing at LG; Charles Choi, Managing Director of LGEUK; Greg Jackson, founder and CEO of Octopus Energy; and Tim Heal, Director of Strategy at Octopus Energy.