Octopus Energy Group Attracts More World-Class Investors as it Accelerates Growth in North America and Europe

Octopus Energy Group has expanded its global influence with new investors Galvanize Climate Solutions (“Galvanize”) and Lightrock joining its investment portfolio. This development follows substantial reinvestments from Generation Investment Management and Canada Pension Plan Investment Board (CPP Investments). The recent investments have valued the global energy and technology group at $9 billion (£7.2 billion), marking a 15% increase since its last major funding round in December 2023.

Galvanize, a climate-focused investment firm based in San Francisco, aims to accelerate climate solutions worldwide. Chaired by Katie Hall and Tom Steyer, the firm is injecting capital from its $1 billion ‘Innovation + Expansion Fund’ into Octopus Energy’s North American expansion.

Lightrock, a global investment platform dedicated to sustainability, manages significant capital across public and private markets. With strong stakeholder relationships in Europe and a presence in Asia and Latin America, Lightrock will support Octopus in its European and global growth.

Greg Jackson, Founder of Octopus Energy Group, expressed his excitement: “I’m thrilled to welcome Galvanize and Lightrock – backed by some of the world’s most successful investors with incredible track records. Their climate-focused investment is a powerful catalyst for our global expansion and will allow us to keep up the momentum to further drive our growth across North America, Europe, and into emerging markets.”

Veery Maxwell, Co-Head of Innovation + Expansion at Galvanize, highlighted the importance of system optimization and flexibility services for the power sector, noting Octopus’ unique capabilities in this area.

Nigel McCleave, Partner at Lightrock, praised Octopus’ rapid growth and its potential to transform the energy value chain, emphasizing the company’s fair customer treatment and pioneering technology.

Octopus Energy is a global leader in affordable, green energy solutions, driven by its retail brand, renewable investments, and proprietary technology platform, Kraken. Kraken has become the fastest-growing energy software globally, recently signing a multi-year contract with Canadian Saint John Energy to license its demand flexibility solution and customer service platform. Kraken now serves over 54 million energy accounts worldwide and manages over 38 GW across 180,000 green energy assets in 12 countries.

In the UK, Octopus has been “Which? Recommended” for seven consecutive years and continues to top TrustPilot ratings for energy suppliers. The company has also been recognized as one of TIME Magazine’s ‘100 Most Influential Companies’.