Deep Green’s business model seeks to recoup the high intensity heat used in running data centres. Its technology means this energy doesn’t go to waste and instead is used to provide free heat for energy-intensive organisations like leisure centres. By teaming up with Deep Green, a public swimming pool in Devon was able to slash its pool heating bill by over 60%.

In return, Deep Green gets free cooling which provides it with a significant competitive edge over traditional data centres. This allows it to offer more affordable, highly energy-efficient computing to businesses across the UK.

Deep Green’s customers require data centre processing for a range of uses including AI, machine learning, video rendering or cloud applications. Deep Green’s current customers include York University, and the company has signed partnerships with industry suppliers Civo and Alces Flight who offer the servers to their customers.

Installed on-site, Deep Green data centres in for example swimming pools, don’t require additional grid upgrades or planning permission so can be up and running in a matter of weeks.

The investment is made via Octopus Energy Generation’s dedicated Octopus Energy Transition Fund (OETF) and the Sky (ORI SCSp) fund which it manages.

Zoisa North-Bond, CEO of Octopus Energy Generation said: “To tackle the energy crisis head-on, we need innovative solutions to unusual problems. By using excess heat from data centres to slash energy bills for communities across the UK, Deep Green solves two problems with one solution. We’re looking forward to them rapidly rolling this out and positively impacting even more people as we drive towards a cleaner, cheaper energy future.”

Mark Bjornsgaard, founder and CEO of Deep Green, commented: “We are thrilled with Octopus’s commitment to support our next phase of growth. Placing data centres within the fabric of society transforms the waste heat they produce into a valuable resource that benefits communities.

“The data centre sector is rightly facing scrutiny about its growing energy demand and associated carbon emissions. Our data centres are highly energy efficient and support local communities with free heat.”

OETF launched in 2023 to scale companies in fast-growing sectors decarbonising society, from heating, to storage, low carbon transport and more. Octopus has also backed ground-source heat pump company Kensa Group through this fund.

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Prime minister Rishi Sunak commissioned Dr Kieran Mullan, MP and geothermal expert, to review the technology’s potential. Technologists from Durham University’s Energy Institute contributed.

Their report ‘Dig Deep: Opportunities to Level Up through Deep Geothermal Heat & Energy” pointed out that geologically promising areas for the technology mapped closely onto 45 economically disadvantaged local authorities.

More than 40 per cent  of locations identified as having the highest geothermal potential fall within the 100 poorest areas qualifying for economic the UK Community Renewal Fund, the report notes.

“The overlap,” wrote Mullan, ”presents massive opportunities for investment in deep geothermal to contribute to the UK’s Levelling Up agenda that aims to reduce economic imbalances between areas and social groups across the UK”.

Mullan and his colleagues claim geothermal heat can be compete on cost with other low carbon energy sources such as nuclear and green hydrogen made under the Green Gas Support Scheme.

A fixed tariff for heat extracted from deep bores could spur the development of up to 350 geothermal plants by mid-century, together producing 15,000 GWh every year, the report envisages.

“A tariff based approach would transfer the risk from the taxpayer to industry in comparison to grant based support”, the MP argues. “ It would also enable the scale needed to bring down costs and reduce risk.”

Pumping the earth’s natural heat to power local heat distribution records could create up thousands of high quality jobs, Mullan concluded.

At the Association for Renewable Energy and Clean Technology, policy director Frank Gordon, responded:

“We would like to thank Kieran Mullan MP for publishing this report and being a friend to the geothermal industry.

“Deep geothermal heat and power is an established renewable energy technology in Europe, and the UK holds significant potential for developing deep geothermal heat, particularly in rural and levelling up areas.

“Government now needs to deliver a comprehensive geothermal strategy without delay, including policy support to help the industry get off the ground. Meeting the Government’s Net Zero ambitions requires a complete range of renewable and clean technologies to all play their part, and geothermal should not be left behind.

Last month the government picked out seven state-of-the-art geothermal systems and heat networks to receive £91 million from the government’s £288 million Green Heat Network Fund.

The seven projects include pumping heat from over 5,000 meters under Cornwall, and using it to  extract heat from granite rocks beneath an industrial site in Langage.

The Green Heat Network Fund opened in March 2022 to public, private and third sector applicants in England. It will run to 2025.

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