$800m investment to accelerate ’s global clean energy growth
Summary
Recommended an unprecedented 6 years in a row and according to consultants Bain**, Octopus Energy is rated 44 points higher than the next best company.2023 saw us launch into heat pump installation and manufacture our own models we now need to drive real scale. This will be the fifth continent and eighteenth operating country for the group.Octopus has just completed the acquisition of Shells Energy and Broadband business in the UK and Germany, and in clean transport the group has secured a \xa3550m funding facility from Lloyds Bank for Octopus Electric Vehicles.Octopuss investment in smart technology has enabled over a million UK customers to save money during the energy crisis, and is delivering better value by helping people benefit from cheap power when renewables are abundant. In the last year alone, almost \xa310m has been returned to customers through Octopuss Saving Sessions, helping reduce demand on the grid at peak times.To support customers this winter, Octopus has recently doubled its OctoAssist Fund to \xa330 million, bringing the total support offered during the energy crisis to nearly \xa3200m by holding energy prices below the cap, offering standing charge holidays, and the distribution of nearly 50,000 electric blankets free of charge to customers in need.Octopus Energy Groups Kraken technology platform has seen astounding success, from 17 million accounts two years ago, to over 52 million today. Kraken is also licensed to water companies, electricity networks, renewable generators and large scale battery operators across the world.In the UK, Octopus has been Which? The group invests in, builds and flexibly manages renewable energy, operating a \xa36 billion portfolio of projects one of Europes largest.Octopus has licensed its advanced data and machine learning platform, Kraken, to support over 52 million customer accounts worldwide through licensing deals with companies such as EDF, E.ON and Origin Energy.Kraken enables Octopus to drive the electrification of heat and transport through smart tariffs and innovative cleantech.