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Challenger energy supplier Octopus Energy has announced the acquisition of smart home energy management platform nCube.
Launched in 2013, nCube supports more than 100 products including Nest, Sonos and Yale.
As part of the acquisition Phil Steele, nCube’s founder and chief executive, will join Octopus as the company’s first ‘future technologies evangelist’. Steele will lead on the development and integration of nCube’s assets.
Octopus will use the newly acquired platform to drive more automation for its customers and closer integration between smart meters and energy consuming devices.
Greg Jackson, chief executive of Octopus Energy, said: “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.
“Phil is one of the leading minds in smart home connections and we’re so excited to see what he does here.”
Phil Steele, founder of nCube, said: “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 has embraced nCube and am excited for the next stage in making homes and businesses smarter and cleaner.”
Octopus is one of the major disruptor brands in the UK energy retail market and recently acquired 300,000 customers from Co-op Energy.
Speaking at Utility Week Congress last week, Jackson revealed that only 44 per cent of the newly acquired customers promised to stay with their new supplier.
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