Octopus Energy Group, the leading UK power supplier, has announced a substantial $800 million investment from existing shareholders, bringing the company’s valuation to $7.8 billion. The infusion of funds marks a 60% increase since its last investment round in December 2021.
Diverse Participation in Investment Round
Major players, including Australian and Japanese giants Origin Energy and Tokyo Gas, the Canada Pension Plan Investment Board (CPP Investments), and sustainability-focused investors, Generation Investment Management, are participating in this investment round.
Impressive Growth and Achievements
Greg Jackson, Founder of Octopus Energy Group, highlighted the company’s remarkable achievements, including market leadership in UK power, leading electric vehicle leasing, and a substantial renewable generation portfolio of $7.6 billion. Octopus Energy has consistently been recognized for customer service and technology, with a 4.8/5 Trustpilot score in almost every country.
Global Expansion and Technological Innovation
The renewed investment will drive Octopus Energy’s global growth, aiming to become a prominent player in the clean energy sector worldwide. The company has expanded beyond the UK, doubling its non-UK business in 2023, and plans to leverage the success of its Kraken technology platform globally.
Strong Industry Partnerships and Acquisitions
Octopus Energy’s success is further exemplified by its partnerships and acquisitions, such as the recent acquisition of Shell’s Energy and Broadband business in the UK and Germany. The company has also secured a £550 million funding facility from Lloyds Bank for Octopus Electric Vehicles.
Commitment to Sustainability and Customer Support
Octopus Energy’s investment in smart technology has empowered over a million UK customers to save money during the energy crisis, with almost £10 million returned to customers through Saving Sessions. The company has doubled its OctoAssist Fund to £30 million to support customers during the winter.
This investment reaffirms Octopus Energy’s position as a global leader in clean energy, supporting its mission to provide sustainable and affordable energy solutions.
Source：businesswire.com
