LG Electronics, Octopus Energy join forces to offer new smart energy solution in Europe
LG Electronics Vice President Yoon Tae-bong, left, poses for a photo with Greg Jackson, the founder of Octopus Energy Group, in London, August 28. Courtesy of LG Electronics
LG Electronics has signed an agreement with Britain-based Octopus Energy Group to offer a new artificial intelligence (AI)-driven clean energy solution in the European market, the company said Tuesday.
The two companies signed a memorandum of understanding last week in Britain to boost their carbon-free energy drive, the Korean tech giant said in a release.
Under the agreement, LG Electronics will link its high-efficiency heat pump systems with Octopus' AI energy management platform, Kraken, to provide a new solution in European countries.
The new solution is aimed at helping European consumers reduce energy consumption while offering an optimized heating and cooling experience amid lingering energy price hikes.
"The cooperation with Octopus will serve as an important opportunity for growth in the clean tech business in Europe," LG Electronics Vice President Yoon Tae-bong said.