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Octopus Energy Group raises $325m in latest funding round
Fundraising - JULY 28, 2022

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Octopus Energy Group raises $325m in latest funding round

by Kali Persall

Octopus Energy Group has secured $325 million in a recent funding round from the company’s existing shareholders, which have backed the company’s global expansion and renewables strategy.

The company plans to use the funds to improve its energy technology platform, Kraken, and invest in products and solutions that can help solve the energy crisis and drive renewables at scale.

Kraken supports Octopus’ retail, generation and flexibility businesses and is licensed to other major energy players, including E.ON and EDF in the United Kingdom. Collectively, Kraken is licensed to support 25 million accounts globally.

Expanding on the strategic partnership with Octopus, Canada Pension Plan Investment Board (CPP Investments) has committed an additional $225 million to Octopus’ efforts to accelerate and enhance the integration of renewables in the power system.

“As global investors, we seek to work with leading tech-enabled energy companies and in the evo

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