Octopus Energy valued at £7.2bn, as it eyes US expansion

  • UK energy company, Octopus Energy, the sustainable energy provider which has now expanded to 18 countries, such as the USA, Germany, and New Zealand, has hit a record valuation of £7.2bn.
  • The increased valuation came after previous investors, Generation Investment Management, and the Canada Pension Plan Investment board, upped their shares to 13% and 12% respectively.
  • The investment will be used to further expand Octopus Energy’s reach internationally.

Octopus expands

Octopus Energy, pioneers in launching emobility schemes such as its Octopus Electroverse public EV charging scheme, and vehicle-to-grid electricity tariffs for consumers, has a new increased valuation of £7.2bn ($9bn). This rise can also be attributed to its recent investment into the off-shore renewable energy firm Ocergy, as well as a new partnership with Brazilian energy provider Energisa Group.

This increased valuation will be used to expand its North American capacity, extending the deployment of its AI-based Kraken technology, which integrates all parts of the energy value chain into one program – and which, in the US, has only been launched within Texas so far.

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Greg Jackson, Founder of Octopus Energy Group, said:

“Bringing globally respected long-term investors on board helps raise our profile in key markets, and open up new opportunities to continue our international expansion… I’m delighted to partner with more pension funds, including Aware Super, and am excited at the prospect of accelerating Octopus and Kraken in North America and beyond, and continuing to invest in technologies that drive a smarter, cheaper energy system.”

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