TLDR:
- Octopus Energy Group secures investments from Galvanize Climate Solutions and Lightrock.
- New investments allow Octopus to continue growth across North America, Europe, and emerging markets.
UK-based clean energy tech company Octopus Energy Group has announced new investments from sustainability-focused investors Galvanize Climate Solutions and Lightrock. These investments, made at a company valuation of $9 billion, mark a 15% increase from a capital raise in December 2023. Octopus Energy Group, founded in 2016, operates across 18 countries and serves over 7 million customers and 40,000 businesses. The company’s businesses include a retail brand providing energy products to 8 million households and a machine learning platform, Kraken, aiming to automate the energy supply chain.
The recent investments from Galvanize and Lightrock follow earlier funding from Generation Investment Management and Canada Pension Plan Investment Board, supporting Octopus Energy Group’s expansion plans in the U.S. market. Founder Greg Jackson expressed his excitement about the new investments, highlighting the company’s commitment to accelerating the clean energy transition globally.
Galvanize, a sustainability-focused investment platform, and Lightrock, a London-based investment firm with a dedicated focus on climate innovation, both see Octopus Energy Group’s potential to transform the energy value chain positively. The partnership aims to drive growth and innovation across North America and beyond, furthering the company’s mission of reshaping the global energy landscape.
