Octopus Energy Groupthe UK’s leading energy supplier and owner of the technology platform Krakenannounced an investment of $800 million nell’clean energy, coming from its current shareholders. This new financing brings the company value at $7.8 billion, marking a 60% increase compared to the previous investment in December 2021.
Octopus Energy will invest $800 million in clean energy
Several investors come from the energy sector such as Origin Energy e Tokyo Gastogether with Canada Pension Plan Investment Board (CPP Investments). But also from the sector of sustainability come Generation Investment Management.
The founder of Octopus Energy Group, Greg Jacksonhighlighted the expansion of the portfolio of renewable energy generation to $7.6 billion and increasing accounts on the Kraken platform from 17 million to 52 million in just two years.
Jackson said: “2023 saw us launch the installation of heat pumps and the production of our own models. Now we need to drive real growth at scale. This year, our business outside the UK has more than doubled with Trustpilot scores of 4.8/5 in almost every country.”
The investment serves to consolidate Octopus’ position as a global clean energy giantespecially at a time when there is a renewed commitment to sustainability seen at the COP.
Several representatives of the companies involved in the investment expressed confidence in the capabilities and prospects of Octopus Energy Group. The CEO of Origin EnergyFrank Calabria, said: “The success of Octopus since our first investment in May 2020 has exceeded all expectations and solidified our confidence in its unique capabilities and solid platform for future growth.”
Also Tokyo Gas e CPP Investments they underlined the value of the company and the possibilities opened up by this investment.
The news of the investment follows a series of major announcements by Octopus Energy Group in various parts of the world. Including an inaugural project in Africa with a wind and solar park in Sierra Leone.
The company in Italy
In Italy, Octopus Energy already has 90,000 customers, achieving a high TrustPilot score. And Forbes recognized it among the top 100 “Responsibility 2023” companies.
The CEO of Octopus Energy Italia, Giorgio Tomassetti, expressed his satisfaction with the company’s incredible growth in the country and continued support from investors. “We are thrilled to see Octopus Energy grow from scratch and become an energy leader in the UK in just 8 years. Our global success, including incredible growth in Italy in 2023, is a source of pride. We appreciate the continued support of investors who believe in our vision. We opt for long-term relationships, and seeing that those who value Octopus continue to invest in us is truly rewarding. Looking ahead, we believe we can offer even more value to investors, especially as we expand into 20 countries. In Italy, these resources will be fundamental to positively revolutionize the energy market.”
More information on the official website.