Octopus Energy’s new data science and AI centre to create 1000 jobs

Summary

• Tech unicorn Octopus Energy plans to create a new technology hub focusing on data science and artificial intelligence (AI) at Manchester.
• Octopus Energy announced plans to create new jobs for STEM graduates.
• Octopus Energy is working on doubling its workforce by end-2021 and making Britain the 'Silicon Valley of energy'.
• Boris Johnson and Rishi Sunak have welcomed these plans.
• At the new technology centre, Octopus Energy would develop the smart grid technologies that are needed for a renewable system, besides the electrification of heating and transport.

Tech unicorn Octopus Energy Ltd., a pioneer in the sustainable energy sector, has announced its plans to create a new technology hub focusing on data science and artificial intelligence (AI) headquartered in Manchester. The company officials added that the new hub will create more jobs and would add at least 1,000 new positions at its different sites, including London, Brighton, Warwick, and Leicester.

According to the plan laid out, Octopus Energy would develop the smart grid technologies that are needed for a renewable system, besides the electrification of heating and transport at its new technology centre at Manchester.

The energy and gas supplier company mentioned that the cooperation across London, Manchester, and Silicon Valley would potentially assist in delivering systems that would automatically help in keeping homes warm when the grid is greenest.

Company officials said that the new jobs would require graduates, with several vacancies for those coming from science, technology, engineering, and math (STEM) background. The new joiners would work in operations as well as green energy technology fields. UK Prime Minister Boris Johnson and Chancellor Rishi Sunak welcomed the plans announced by Octopus for creating a new technology hub and 1,000 jobs.

Sunak said that job creation is positive and more green jobs is a vote of confidence in the economy as it recovers. It is crucial to the country’s collective efforts for building a cleaner and greener planet, Sunak said.

Considered to be one of the fastest growing private enterprises, Octopus Energy is working towards fighting climate change by revolutionising the way it perceives green energy. The company has a proprietary cloud-based technology platform that successfully unlocked the smart grid and gave the customers access to cheaper electricity generated from renewable energy. By utilising its cutting edge technology platform called Kraken, the company has helped its customers to earn money by increasing the use of electricity consumption at a time when the generation of renewable energy is high and evade making higher costs when energy production is less.

Octopus Energy is known to have become Britain’s latest tech unicorn or a startup enterprise valued in excess of $1 billion during April 2020. During that time, Australia-based Origin Energy, paid £300 million for a 20 per cent stake in Octopus Energy. The company has also announced an investment worth £100 million for the US. The entry formed a part of its target to acquire 100 million energy customers across the globe by 2027. Octopus energy has significantly expanded its reach within the UK energy companies such as E.ON UK, Good Energy Group plc, and Co-op Energy. Under technology licence deals, these British companies use the Kraken platform.

Talking about Kraken, CEO Greg Jackson said the company is transforming the energy sector in the same way as the App Store by Apple changed the way people ordered food or transport forever. The company is creating new jobs not only by increasing the demand for affordable renewable energy but also by allowing the development of upcoming companies involved in electric heating, electric vehicles, and vertical farming, among others. He said the company is targeting at converting Britain into the Silicon Valley for the energy sector. A booming market could potentially assist in making Britain one of the best places for investment in creating new and clean generation of electricity.

Kraken Technologies advanced data and machine learning services. Kraken has been licensed to support more than 17 million accounts internationally through deals with companies such as Good Energy, E.ON energy, Origin Energy, and 4hundred GmbH.

Launched in 2015, Octopus Energy Group uses technology for making the green energy revolution affordable and transforming customer experiences. At present, the company’s domestic energy arm serves 1.7 million customers. While Octopus Electric Vehicles is assisting in making clean transport cheaper and easier, the Octopus Energy Services is offering smart products to households. At present, the company has operations in Germany, Australia, and the US.