Octopus Energy has received an additional $800m investment from its existing shareholders, valuing the company at $7.8bn.

Australian and Japanese giants Origin Energy and Tokyo Gas, 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: “In just two years we’ve almost doubled our renewable generation portfolio to $7.6bn, and tripled the contracted accounts on our technology platform Kraken from 17 million to 52 million. 2023 saw us launch into heat pump installation and manufacture our own models – we now need to drive real scale.”

Octopus Energy has started cooperating with Tokyo Gas, created its inaugural project in Africa - a wind and solar farm in Sierra Leone, completed the acquisition of Shell’s Energy and Broadband business in the UK and Germany, and in clean transport the group has secured a £550m funding facility from Lloyds Bank for Octopus Electric Vehicles.

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