Octopus Energy swoops for heat pump manufacturer RED in 'multi-million pound' deal

clock • 3 min read
Business and Energy Minister Lord Callahan and Octopus founder Greg Jackson at the Octopus Heat Pump Centre | Credit: Octopus
Image:

Business and Energy Minister Lord Callahan and Octopus founder Greg Jackson at the Octopus Heat Pump Centre | Credit: Octopus

Octopus Energy CEO Greg Jackson describes investment as 'Model T moment for the heat pump industry'

Octopus Energy has today announced a "multi-million pound investment" in heat pump manufacturer Renewable Energy Devices (RED), in a move it claimed would help to make heat pumps "cheaper and better for...

To continue reading this article...

Join BusinessGreen

In just a few clicks you can start your free BusinessGreen Lite membership for 12 months, providing you access to:

  • Three complimentary articles per month covering the latest real-time news, analysis, and opinion from Europe’s leading source of information on the Green economy and business
  • Receive important and breaking news stories via our daily news alert
  • Our weekly newsletter with the best of the week’s green business news and analysis

Join now

 

Already a BusinessGreen member?

Login

Author spotlight

Tom Gockelen-Kozlowski

View profile
More from Tom Gockelen-Kozlowski

UK business leaders: Corporate climate action top priority despite economic woes

Net Zero Festival: Firms urged to put data at the heart of decarbonisation strategies

More on Energy

'A real opportunity': Local football clubs tipped to become clean energy hubs
Energy

'A real opportunity': Local football clubs tipped to become clean energy hubs

Project backs small clubs to house battery storage, solar panels, heat pumps, and electric vehicle chargers, enabling them to supply clean energy and flexibility services to local grids

Stuart Stone
Stuart Stone
clock 10 July 2026 • 3 min read
Study: Government grants for green cooling technologies going largely unclaimed
Energy

Study: Government grants for green cooling technologies going largely unclaimed

Government's Boiler Upgrade Scheme could support almost a million air-to-air heat pumps which offer cooling as well as heating - but only 45 vouchers have been claimed to date

Amber Rolt
clock 10 July 2026 • 3 min read
'The case for reform is clear': Why sky-high UK energy costs are an urgent issue for the next Prime Minister
Energy

'The case for reform is clear': Why sky-high UK energy costs are an urgent issue for the next Prime Minister

Manufacturers say they want to invest in decarbonisation and electrification, but the UK's high energy costs are holding them back

Michael Holder
Michael Holder
clock 08 July 2026 • 11 min read