3 years ago

Octopus Energy Invests £35 Million in Battery Startup Exagen

  • Octopus Energy has invested up to £35 million in Exagen, a battery developer and solar power company, through its new Development Partnership (OEDP) fund

  • The investment will be used to accelerate the development of Exagen's clean energy tech projects, including the construction of three solar and battery storage facilities across the Midlands and Northeast

  • The deal also includes a partnership between Octopus and Exagen for the upcoming solar and battery storage projects

  • Exagen aims to produce over 500MW of generation and energy storage projects annually to further the goal of decarbonisation.

      • ProblemRenewable Energy

      "The transition to renewable energy sources like solar and wind requires efficient and scalable energy storage solutions to ensure grid stability and reliability."

      Solution

      "Exagen develops and builds solar and battery storage facilities, including a planned 1GWh mega-battery, to provide grid-scale energy storage solutions that enable the growth of renewable energy and support the decarbonisation of the energy sector."

      Covered on