UK firm takes majority stake in Boulder’s Uplight

BOULDER — British electricity and gas supplier Octopus Energy Group Ltd. recently took a majority stake in Uplight Inc., a Boulder-based provider software for utilities and energy companies.

“Under the agreement, Octopus Energy Group will acquire a majority stake in Uplight and Schneider Electric will remain a significant minority partner,” the company said in a news release. “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.”

Schneider began investing in Uplight in 2021. Two years later, ties between the two companies were strengthened when Uplight absorbed California-based AutoGrid Systems Inc., a company that Schneider had itself acquired in 2022. 

“Uplight sits at the center of one of the energy industry’s biggest challenges: unlocking flexible capacity quickly while keeping energy affordable,” Octopus’ United States CEO Nick Chaset said in the release. “Octopus is a consumer energy company, and we build products and services that help households and businesses participate directly in the energy system. Combined with Uplight’s ability to aggregate flexibility at scale, that participation becomes dependable grid capacity that utilities can rely on.”

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