Under the agreement, Octopus Energy Group will acquire a majority stake in Uplight and Schneider Electric will remain a significant minority partner. Uplight will remain an independent company, enabling rapid innovation while collaborating with these long-term strategic partners toward a shared goal of connecting the customer to the control room to improve affordability for energy customers and create more reliable grid flexibility.
"This investment reflects a shared conviction in Uplight's unique ability to transform demand-side resources into reliable, precise and cost-effective capacity, and the importance of customer-centric flexibility as grid, utility and customer needs intensify," said Luis D'Acosta, Chief Executive Officer of Uplight. "With the strategic backing of Octopus Energy Group, we will accelerate our Demand Stack strategy, which unifies fragmented demand-side initiatives into predictable, aggregated resources to power grid reliability, energy affordability and decarbonization."
Across North America, electric grids are confronting sustained demand growth, driven by electrification and the rapid expansion of data centers. As supply margins tighten and costs rise, utilities must tap into the flexibility available via distributed energy resources in customer homes and businesses, which are faster and more cost-effective to deploy than traditional infrastructure. Uplight's platform enables customer participation and grid-edge assets to perform as dependable capacity that utilities can use to meet real-world grid conditions.
The investment reflects an alignment of complementary strengths designed to accelerate the role of demand-side flexibility in grid operations:
Octopus Energy Group has deep experience operating customer-first energy businesses at scale—serving over 11M households in 27 countries, and is a global leader in flexibility management, ...
