Overview
- Funding will target carbon removal, industrial heat batteries, and the acquisition of a solar‑plus‑storage project in California.
- Two California carbon removal ventures focused on grassland restoration and reforestation have carbon‑credit offtake agreements lined up with major technology companies.
- The program includes backing Bay Area heat battery systems designed to replace fossil‑fuel boilers in hard‑to‑electrify industries using renewable power.
- Octopus is acquiring a solar and battery project slated to be fully operational by July 2026 to turn California’s solar resources into firm power.
- The announcement coincided with Governor Gavin Newsom’s visit to Octopus’s London headquarters and builds on Octopus’s U.S. footprint in Texas retail power, Ocergy offshore wind, and solar in Ohio and Pennsylvania.