Overview
- Octopus will acquire a California solar‑plus‑storage project slated to be fully operational by July 2026.
- The investment includes funding for Bay Area–developed heat batteries aimed at decarbonizing hard‑to‑electrify industries.
- Through its funds, Octopus will back two California carbon‑removal firms focused on grassland restoration and reforestation.
- The company reports several big tech buyers are already lined up to offtake carbon credits from the planned removal projects.
- The move forms part of Octopus’s plan to deploy $2 billion in the U.S. energy transition by 2030 and was announced during Governor Gavin Newsom’s visit to its London headquarters.