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Octopus Energy attracts top investors

Octopus Energy has secured backing from Galvanize Climate Solutions and Lightrock, reinforcing its growth in North America and Europe, with a valuation increase of 15% to $9 billion

Octopus Energy is expanding with investments from investors Galvanize Climate Solutions and Lightrock.

This follows recent investments from Generation Investment Management and Canada Pension Plan Investment Board (CPP Investments).

These investments confirm Octopus’ valuation at $9 billion (£7bn), marking a 15% increase from its previous funding round in December 2023.

This partnership is expected to drive Octopus Energy’s expansion in North America.

Lightrock, a global investment platform with a sustainability focus, will support Octopus Energy’s growth in Europe and globally.

Greg Jackson, Founder of Octopus Energy Group, said: “We share a mission to accelerate the clean energy transition through smarter, more sustainable systems worldwide.

“With their support, we’ll increase our global impact, ramp up innovation and scale our vision for reshaping the energy landscape globally.”

Nigel McCleave, Partner at Lightrock, said: “It is remarkable that in less than a decade since founding, Octopus has become the UK’s largest provider of home electricity – a testament to its fair treatment of customers, pioneering technology, and transformation of the consumer energy experience.”

Veery Maxwell, Co-Head of Innovation and Expansion at Galvanize, said: “In order to decarbonise, increased system optimisation and flexibility services for the power sector are critical, particularly as the industry grapples with escalating load growth and distributed generation.”

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