Octopus Energy and Schneider Electric Invest in Uplight to Strengthen North American Grids
Octopus Energy Group is expanding its U.S. operations by acquiring a majority stake in Uplight, a leading provider of customer engagement and flexibility management solutions that turn household and business participation into reliable grid capacity. Schneider Electric will remain a significant minority partner, and the transaction is expected to close later this year, pending regulatory approval.
Uplight serves more than 85 utilities across North America, including eight of the ten largest in the U.S., managing over 8.5 gigawatts of flexible load through demand response, distributed energy resources, and other flexibility programs.
The investment comes as U.S. utilities face rising electricity demand driven by AI data centers, electrification, and distributed energy resources. By connecting customer participation directly to grid operations, the companies aim to unlock capacity faster and more cost-effectively than traditional infrastructure expansion.
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… Together, we can help accelerate the shift to a smarter, more resilient and more affordable energy system.”
Luis D’Acosta, CEO of Uplight, added: “With the strategic backing of Octopus Energy and Schneider Electric, Uplight is uniquely positioned to bridge the gap between customer participation and grid operations.”
Frédéric Godemel, Executive VP at Schneider Electric, said: “Uplight’s platform will help transform distributed energy resources into reliable, market-ready capacity.”
The partnership combines Octopus Energy’s flexibility expertise, Uplight’s established utility relationships, and Schneider Electric’s advanced grid management systems, including its OneDERMS platform.
Source: octopus.energy
