By Diplomacy Journal Kayla Lee
LG Electronics (LG) has signed a memorandum of understanding (MOU) with UK-based Octopus Energy Group Ltd. (Octopus Energy) on Sept. 2 to strengthen its presence in Europe’s clean technology sector.
The partnership will combine LG’s advanced, high-efficiency heating and cooling solutions with Octopus Energy’s AI-driven energy software platform, Kraken, to accelerate the transition to sustainable energy in Europe.
The MOU signing ceremony took place on August 28 (local time) at Octopus Energy’s London headquarters. Attendees included Thomas Yoon, head of LG’s Overseas Sales & Marketing Company; Charles Choi, managing director of LGEUK; Greg Jackson, founder and CEO of Octopus Energy; and Tim Heal, Chief Strategy Officer at Octopus Energy.
Octopus Energy is the UK’s largest energy supplier, driving the shift toward a decarbonized future with innovative clean energy solutions. The company provides electricity and gas, and is spearheading the adoption of heat pumps as sustainable alternatives to gas boilers.
Its proprietary Kraken platform enables consumers to optimize energy usage through real-time renewable pricing. Since its founding in 2016, Octopus Energy has expanded into more than 30 countries, now serving around 10 million customers worldwide.
Through this collaboration, LG and Octopus Energy will launch a joint solution that integrates LG’s high-efficiency heat pumps with the Kraken platform in key European markets, including the UK and Germany.
