Octopus Energy’s Innovative Grid Management
Octopus Energy, a London-based electricity provider, incentivises customers to reduce energy usage during peak times, offering payment to avoid costly standby generators. Co-founder Greg Jason highlights this new consumer-provider relationship, with 1.4 million participants reducing usage when alerted, saving $200 million in fuel costs last year.
The octopus has grown to 8 million accounts despite its complexity, becoming the UK’s largest provider and second in Europe. Their success, partly due to gamifying energy consumption, has led to US expansion in Texas. This demand response strategy creates a virtual power plant by managing home thermostats and EV charges.
Concrete as a Long Duration Energy Storage Solution
The world’s most common building material may soon help power our homes. In a Cambridge, Massachusetts Lab, Damian Stefaniuk demonstrated a groundbreaking innovation: black-coloured concrete blocks that can light up an LED bulb. Initially sceptical, Stefaniuk’s successful experiment convinced even the sceptics among his colleagues.
This discovery could revolutionise energy storage, addressing the intermittent nature of renewable energies like solar and wind power. Traditional batteries rely on lithium, which has significant environmental and supply chain issues. Concrete-based energy storage offers a promising alternative, potentially easing the transition to renewable energy without the drawbacks of lithium batteries.
Women-led Start-ups Addressing Water Challenges
As the global water crisis gains attention, women-led startups are innovating to address water quality and consumption issues. Notably, half of the nominees in FoodShot Global’s 2023 water challenge were women, highlighting their significant contributions. Emily Hicks of FREDsense Technologies focuses on reducing port water contamination from pollutants.
Adi Yehezkeli’s Fabumin works on sustainable practices to protect water resources, while Elie Fink’s Talmond Foods develops sustainable food production methods that conserve water. These entrepreneurs exemplify the growing role of women in driving socially responsible solutions to critical water challenges.
World Bank to Host Climate Fund for Developing Nations
The World Bank’s board has approved a plan to act as an interim host for a new “Loss and Damage” fund to support developing counties impacted by climate change. Agreed in principle at the 2022 climate talks, the fund addresses damages from extreme weather events like floods and droughts.
Despite concerns from richer nations about liability for climate damage, countries like Italy and the Netherlands have pledged contributions since 2023.
