Re.alto & Octopus Energy Group Sign Agreement to Enable Near Real-Time Access to Energy Devices
re.alto energy will support Octopus Energy Group’s subsidiary KrakenFlex, providing key connectivity services to decentralised electrical home devices.
FOR IMMEDIATE RELEASE
Brussels- Berlin, 24 November 2021— re.alto energy, a corporate start-up borne from the Elia Group, is building a universal connectivity layer that provides energy suppliers with near real-time access to energy devices such as digital meters, electrical vehicles (EVs), solar photovoltaics, batteries, heat pumps and boilers, directly from the device itself, without the need for additional hardware.
End consumers are willing to benefit from renewable energy and take an active role in the decarbonisation of the planet for as long as it is seamless, and the cost is fair.
To achieve this, re.alto’s innovative API platform and European digital energy marketplace offers more digital energy services that optimise the end-user’s electricity supply, storage and output automatically.
Octopus Energy Group is a pioneer in the development of digital energy services across the UK and the globe, providing over 3.1 million customers with cheaper, greener energy through innovative technology and relentlessly efficient customer service.
To enable growth whilst keeping the end consumer at the centre, re.alto will provide the connectivity layer for flexible home energy devices to Octopus Energy Group’s technology platform KrakenFlex, enabling further development of new energy services and flexibility capabilities in the UK, with expansion to other regions planned for the future.
Following the successful end-consumer roll out by Q1 2022, re.alto anticipates a scaling strategy that starts with solar photovoltaics & EVs in the UK, expanding geographically and to new decentralised appliances over time.
“End consumers are at the centre of the energy transition, and it is a privilege to partner with front runners who have demonstrated their capacity to develop and scale products that truly put clients first,” said Alexandre Torreele, Chief Executive Officer of re.alto energy. “Bringing together Octopus Energy’s knowledge in the supply market and re.alto’s knowledge in digital marketplaces and connectivity to energy data and digital products through APIs, we will be able to accelerate both re.alto and Octopus Energy’s opportunity for growth.”
Devrim Celal, CEO of Kraken Flex, comments: “re.alto and Kraken Flex are cutting-edge innovators in the energy space, and combining our expertise on this new agreement for the UK, Belgian and German grids means we will be able to create one of the first truly smart green energy grids. By giving customers the flexibility to use their appliances however they want and control demand on the grid to use during periods of intermittent energy, we can prove that a decentralised, green grid of the future is already possible today.”
About re.alto: Founded in 2019 re.alto has the mission to create digital bridges between the different actors and sectors by allowing efficient access and transfer of energy services and data through API technology.
In 2020, re.alto first developed and successfully launched the first European digital marketplace for energy data and services, and is now developing and scaling re.alto Connect to unlock access to decentralised energy sources for all energy service providers in Europe.
Based in Belgium, the re.alto team brings together a unique combination of industry experience and knowledge from across the energy and technology sectors, and are on a mission to accelerate the digital revolution by making reliable data accessible to all, across the energy value chain.
About KrakenFlex: KrakenFlex, previously Upside Energy, was founded in 2014 and acquired by Octopus Energy Group in 2020. Part of the Kraken technology platform, KrakenFlex connects with a whole host of clean energy technologies such as batteries, electric vehicles, and heat pumps, allowing it to manage those devices to match real-time energy demand and supply. This helps to balance the grid and enables customers to capitalize on cheaper, greener power.
KrakenFlex’s pioneering cloud platform is the bridge between the physical and financial elements of the energy system, providing a route to market opportunities and monetizing distributed energy resources (DERs). It enables its customers to capitalize on the energy transition and create a grid system that is greener, cheaper, and more flexible than ever before.
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