Octopus Energy Group has announced $800 million of additional investment from its existing shareholders.
This new investment values the private company at $7.8 billion, a 60 percent increase since its previous investment round in December 2021.
Australian and Japanese giants Origin Energy and Tokyo Gas; one of the world’s largest pension funds, Canada Pension Plan Investment Board (CPP Investments); and sustainability-focused investors Generation Investment Management are all participating in this round.
Greg Jackson, founder of Octopus Energy Group, said, “Octopus Energy’s focus on customer service and technology has not only driven us to market leadership in U.K. power, but we’ve built the U.K.’s leading specialist electric vehicle leasing business. In just two years, we’ve almost doubled our renewable generation portfolio to $7.6 billion and tripled the contracted accounts on our technology platform, Kraken, from $17 million to $52 million.â€