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Octopus Energy acquires IoT technology nCube Home

Image: Octopus Energy

Image: Octopus Energy

Octopus Energy has acquired nCube Home, the UK's first independent smart home energy management platform.

nCube Home is an award-winning technology, that bridges the gap between IOT devices, using Z-Wave, WiFi, Zigbee, Bluetooth and LAN. It is currently supports over 100 products, including Nest, Sonos and Yale.

Octopus intends to use the platform to help develop smart grids, increase automation and integrate smart meters into its offering.

CEO and found of nCube Phil Steele will join Octopus as part of the acquisition, to become the company's Future Technologies Evangelist.

“I first met Octopus Energy at its Agile Hackday last year, and saw the team shared my vision of a greener energy system, enabled by technology. I’m thrilled that Octopus have embraced nCube and am excited for the next stage in making homes and businesses smarter and cleaner,” said Steele.

Octopus Energy CEO Greg Jackson has welcomes Steele who he says is “one of the leading minds in smart home connections.”

“With Octopus’s smart tariffs, customers get cheap green electricity when the wind blows, the sun shines and the grid is quiet. nCube’s technology means this whole process can be automated so customers get cheap, green energy without even thinking about it.”

This is the latest of a number of acquisitions and expansions made by Octopus, which was launched in 2016 and now supplies nearly 1.3 million UK homes with renewable electricity and gas.

In September, it continued its expansion internationally by acquiring German green energy group 4hundred, whilst in the UK it has continued to grow, signing a strategic energy partnership in August with Co-op Energy, which will see Octopus take on more than 300,000 additional customers.

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