Octopus Energy takes majority stake in Uplight to scale flexible, digitalised grids across North America

• Octopus Energy Group to acquire majority stake in Uplight, partnering with Schneider Electric to scale next-generation grid flexibility
• The partnership brings together consumer engagement, demand-side flexibility, and advanced grid management technology
• Helps US utilities manage surging electricity demand from AI-driven data centres and electrification while strengthening energy security

London / New York, 24th March 2026 – Octopus Energy Group will cement its expansion in the U.S. by acquiring a majority stake in Uplight, a leading provider of customer engagement and flexibility management solutions that rapidly transform customer participation into dependable grid capacity.

The deal is made in partnership with Schneider Electric, a global energy technology leader trusted by utilities worldwide, which will remain as a significant minority partner. The transaction is subject to customary regulatory approvals and is expected to complete later this year.

Uplight serves over 85 utilities across North America, including eight of the ten largest in the U.S., and manages over 8.5 gigawatts of flexible load, delivering demand response, distributed energy resource management and customer engagement solutions to millions of customers. Uplight will continue to operate as an independent platform focused on customer-centric flexibility management.

The investment gives utilities the tools to modernise their grid operations and strengthen resilience as AI-driven data centres, electrification and distributed energy sharply increase electricity demand across North America. By connecting customer participation more directly to grid operations, utilities can unlock flexible capacity faster and more affordably than traditional infrastructure buildouts.

Meeting this surge in demand while maintaining reliability, affordability and energy security is one of the defining energy challenges of the decade. Utilities are increasingly seeking solutions that engage customers directly in managing energy use.

Uplight enables households and businesses to actively participate in flexibility programs, turning distributed energy resources into reliable capacity that utilities can deploy when and where the grid needs it.

Octopus Energy Group is a global leader in managing flexible energy systems, operating the world’s largest virtual power plant, with more than 350,000 electric vehicles enrolled worldwide and enabling millions of customers to lower their energy bills through demand-side flexibility tariffs. The investment in Uplight means Octopus Energy will bring this expertise into the U.S. market at scale by working directly with utilities to unlock flexible capacity and support more resilient power systems.

The partnership brings together:

• Octopus Energy’s consumer innovation and global flexibility expertise
• Uplight’s established U.S. utility relationships and proprietary engagement and flexibility technology
• Schneider Electric’s global leadership in advanced distribution management systems (ADMS) and its OneDERMS platform, helping connect demand-side flexibility with grid operations and manage increasingly dynamic power systems

Kraken, the operating system for utilities originally developed by Octopus Energy Group and now operating as an independent global technology business, will begin exploring collaboration with Uplight, encompassing customer operations capabilities, and flexibility orchestration to combine the companies’ respective best-in-class expertise.

Nick Chaset, CEO of Octopus Energy U.S., said: “As energy demand surges in the U.S., utilities need the tools to deliver reliable and affordable power for their customers. This partnership brings together Octopus’s world-leading expertise in flexibility, Schneider Electric’s grid intelligence and Uplight’s deep relationships with leading U.S. utilities to turn customer participation into dependable grid capacity. Together, we can help accelerate the shift to a smarter, more resilient and more affordable energy system.”

Frédéric Godemel, Executive Vice President, Energy Management at Schneider Electric, said: “Our continued commitment to Uplight reflects a shared focus on connecting customer programs more directly to grid operations. Uplight’s platform will help transform distributed energy resources into reliable, market-ready capacity, and we will support their mission to make energy more flexible, clean and affordable.”

Luis D’Acosta, Chief Executive Officer, Uplight, said: “Uplight has always been committed to unlocking grid capacity by empowering the energy consumer. With the strategic backing of Octopus Energy and Schneider Electric, Uplight is uniquely positioned to bridge the gap between customer participation and grid operations. Together, we are proving that distributed energy resources – when managed with precision and scale – can perform as the reliable, utility-scale capacity needed to ensure a resilient and affordable energy future.”

ENDS

Notes to editors:

Press Contacts

Octopus Energy Group

press@octoenergy.com

+44 (0)20 4530 8369

Octopus Energy U.S.

us-press@octoenergy.com

+1 281-777-3850

About Octopus Energy Group

Octopus Energy is a global clean energy and technology business, driving the affordable, green energy system of the future. Under its own retail brand, Octopus delivers world-class customer service and cutting-edge energy products to 11 million households globally.

The company is driving the electrification of heat and transport through smart tariffs and innovative clean tech, with operations spanning 27 countries and the entire energy value chain. It operates a $9 billion renewables portfolio as well as thriving EV leasing, heat pump, and solar businesses. Backed by pension funds, investors and energy giants, Octopus Energy Group businesses deliver cheaper, greener energy and cutting-edge tech to countries and customers worldwide.

For more information see: www.octopusenergy.group

About Uplight

Uplight is a clean energy technology company that unlocks grid capacity by activating customers and their connected devices to generate, shift, and save energy. Uplight enables sustainable load growth by combining personalized customer experiences with an open, flexible load management platform through the Uplight Demand Stack: integrating energy efficiency, electrification, rates, and flexibility programs to improve grid resilience, reduce costs, and accelerate decarbonization for both energy providers and their customers.

Uplight serves over 85 energy providers, including 8 of the 10 largest North American utilities, and is a certified B-Corporation whose purpose is to create a more sustainable future using business as a force for good. To learn more about Uplight, visit https://uplight.com/.

About Schneider Electric

Schneider Electric is a global energy technology leader, driving efficiency and sustainability by electrifying, automating, and digitalising industries, businesses, and homes. Its technologies enable buildings, data centres, factories, infrastructure, and grids to operate as open, interconnected ecosystems, enhancing performance, resilience, and sustainability. The portfolio includes intelligent devices, software-defined architectures, AI-powered systems, digital services, and expert advisory. With 160,000 employees and 1 million partners in over 100 countries, Schneider Electric is consistently ranked among the world's most sustainable companies.

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