• Octopus Energy secures new investment to improve its energy technology platform.
• It plans to accelerate renewable energy generation.
Britain’s Octopus Energy Group has announced a sum of $550 million in new investment to improve its energy technology platform and expand renewables. The group secured $325 million from existing shareholders from the close of a fundraising round and an additional $225 million from the Canada Pension Plan Investment Board.
The company intends to improve its energy technology platform, Kraken, further and invest in products and solutions that can help drive renewable energy generation.
Octopus has 3 gigawatts of energy projects under management. Its domestic energy arm supplies 3.4 million customers.