TLDR:
- Octopus Energy receives new investment from Generation Investment Management and Canada Plan Investment Board, pushing valuation over $9bn
- This marks a total of over $2bn raised from global investors in just eight years
Octopus Energy has attracted a significant investment from existing shareholders Generation Investment Management and the Canada Plan Investment Board, surpassing a valuation of over $9 billion. Generation Investment Management now holds a 13% stake in Octopus Energy after investing $340 million, with additional support from Australian pension fund Aware Super and another US pension fund. At the same time, the Canada Plan Investment Board has also increased its stake in Octopus Energy to 12%. These investments follow a previous $800 million round in December, bringing the total funds raised by the company to over $2 billion since its launch. The company, which now operates in 18 countries globally, has seen its market value increase by 15% with these latest deals. Octopus Energy is looking to expand its tech platform Kraken into US markets, with the aim of accelerating its international growth. The company’s founder and CEO Greg Jackson expressed excitement at partnering with more pension funds and the potential for advancing Octopus and Kraken in North America and beyond. Tom Hodges, co-head of private equity at Generation Investment Management, described Octopus Energy as a “generational opportunity” and praised the company’s innovative approach in the energy sector. The investments are expected to boost Octopus Energy’s presence in North America, positioning the company for further growth and technological developments in the energy industry.
