Octopus Energy
Assembly Line
Octopus Energy’s valuation increases to $9bn following further commitments from existing investors
Octopus Energy today announces a new valuation of $9bn as existing shareholders Generation Investment Management and Canada Pension Plan Investment Board (CPP Investments) increase their stakes in the business. The deal increases the global energy and technology group’s valuation by 15% on the last investment round, totalling $9 billion (£7.2bn).
The investment will increase Octopus Energy Group’s profile in the USA, fuelling the company’s plans to extend its Kraken technology into American markets, having signed the first deal in Texas in 2023. Octopus Energy closed its last funding round in December in which it raised $800 million. Since launching to the market eight years ago, Octopus has raised well over $2bn from global investors and expanded into 18 countries.