Octopus Energy has announced the acquisition of BD Energy, a rapidly expanding Danish technology startup established in 2022 that specialises exclusively in short-term energy markets. These markets focus on electricity trading within the final 24 hours before delivery, down to the precise moment power enters the grid.
BD Energy utilises proprietary technology to automate electricity trading across 15 international markets, with 99% of its trades executed automatically. Its advanced systems leverage data and algorithms to make swift and efficient decisions in purchasing and selling electricity.
Following the acquisition, BD Energy will be integrated into Octopus Energy Trading. This move provides BD Energy with access to Octopus’ financial resources and technological capabilities, enabling it to increase trading volumes and extend its operations into new global markets.
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Octopus Energy, competing with British Gas, EDF Energy, EON Next, and OVO in the UK, serves millions of households, including many in Birmingham. Founded by Greg Jackson, Octopus has grown significantly, developing various divisions such as Octopus Energy Trading.
In a press release, Octopus stated that it “delivers world-class customer service and cutting-edge energy products to 11 million households globally.”
Frederik Vinkler, Co-Founder of BD Energy, commented: “We established BD Energy with the goal of creating a new kind of energy trading company-where technology forms the foundation of the business rather than just a tool used by traders. What attracted us to partner with Octopus was our shared commitment to green values combined with their entrepreneurial spirit and scale. With Octopus’s support, we can apply our proprietary algorithms to larger volumes and introduce our automated trading infrastructure to new markets worldwide.”
Matt Bunney, Managing Director at Octopus Energy Trading, remarked: “BD Energy’s accomplishments in just a few years are remarkable. Integrating their technology under Octopus Energy Trading combines two dynamic, tech-driven teams. Their expertise in short-term markets will significantly enhance our power trading capabilities and accelerate the optimisation of flexibility in vital markets globally.”