Octopus Energy builds and licenses the Kraken data and machine-learning platform to energy suppliers and other partners, supporting smart tariffs and demand flexibility. Kraken is contracted to support over 54 million customer accounts worldwide and to manage more than 38 GW across 180,000 green energy assets in 12 countries. Under its retail brand the company delivers energy products to 7.8 million households and operates across 18 countries. The platform is licensed to major suppliers including EDF, E.ON and Origin Energy and Octopus recently signed a multi-year contract with Saint John Energy in Canada. The company says Kraken reduces costs for suppliers and improves customer service while enabling electrification of heat and transport through smarter systems. Leadership states the new investor support will help ramp innovation, expand global impact and accelerate growth across North America, Europe and emerging markets. Octopus Energy Group operates retail energy services and the Kraken technology platform, which is licensed to support over 52 million customer accounts worldwide. Under its own retail brand it serves 7.2 million households and the group says its operations span 18 countries and the entire energy value chain. The group invests in, builds and manages renewable projects and reports operating a roughly £6 billion portfolio of projects; it also states its renewable generation portfolio has grown to about $7.6bn (£6bn). Octopus has expanded into electric-vehicle leasing and secured a £550m funding facility for Octopus Electric Vehicles, and in 2023 launched heat-pump installation and began manufacturing its own models. Recent strategic moves include the acquisition of Shell’s Energy and Broadband business in the UK and Germany and an inaugural wind and solar project in Sierra Leone, bringing its footprint to 18 countries. The company highlights strong customer metrics—Which? Recommended for six consecutive years, high Trustpilot scores (~4.8/5) and customer savings delivered via programmes such as Saving Sessions. Octopus Energy Group is a London-based clean energy technology company whose core product is the Kraken energy platform. Kraken supports the company's retail, generation and flexibility businesses and is the focus of continued development. The company manages 3GW of energy projects. Octopus raised $550 million in new investment to further improve Kraken and expand renewables. The capital will be used to develop products and solutions aimed at addressing the energy crisis and driving renewables at scale. Company leadership highlighted backing from investors including CPP Investments, Generation, Origin and Tokyo Gas. Octopus Energy Group is a London‑based renewable energy retailer that also develops the Kraken smart‑grid technology platform for customer service. The Kraken platform currently holds about 17 million accounts and the company aims to reach 100 million accounts by 2027. Octopus serves more than 3 million customers in the U.K. and supplies energy in the U.S., Germany, Spain, Italy, New Zealand, and Japan, and has established its U.S. headquarters in Houston. The company’s renewable investment arm, Octopus Energy Generation, manages assets exceeding $4.5 billion. Octopus is on track to supply enough wind and solar energy to power 2 million more homes by 2025 and plans to activate 30 more wind turbines. The business positions itself around improving customer experience and expanding access to renewable energy globally. Octopus Energy Group is a U.K. energy-technology company built around its "Kraken" platform that reroutes energy from renewable sources across networks. It manages 17 million energy accounts in 12 countries and operates retail businesses in the U.K., U.S., Germany, Spain and New Zealand while licensing technology to multiple partners. The group runs 13 businesses and is an owner-operator of wind, solar and biomass generation assets, currently holding £3.5 billion in generation assets with plans to 10x that over the next ten years. Octopus has launched Electric Juice, an EV roaming network covering 100,000 charge points, and partnered with Tesla to launch Tesla Power in the U.K. and Germany. The company has acquired smart-grid specialist Upside Energy, established the Centre for Net Zero, and invested £10 million in an R&D and Training Centre for Decarbonisation of Heat. Octopus says it will use new strategic funding to push further into the U.S. market, where it already has a presence in Texas.

Total raised

$2.4B

Funding rounds

6

Latest round

Equity

Latest activity

Dec 2023