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For £ 439m, Al Gore will firmly invest in Octopus Energy.

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Octopus Energy Group has announced a key strategic partnership with Generation Investment Management, which values ​​renewable energy pioneers at $ 4.6 billion.

GIM, which helps companies drive sustainability and the fight against climate change, will invest £ 439m in a 13% stake in Octopus. This is in line with a £ 40m equity investment from Origin Energy.

Octopus fulfills its mission to use revenue for “turbo boost” to drive the renewable energy revolution globally.

Octopus’ technology platform Kraken will be in Kraken by 2027 with Good Energy, Hanwha Corporation, Origin Energy, nPower and E.ON. In addition to Octopus’ own retail operations in the United Kingdom, the United States, Germany, Spain and New Zealand. We have the ambition to support 100 million energy accounts.

The UK market is in dire straits due to the sharp rise in wholesale gas prices, with a series of small energy providers going bankrupt in recent weeks, followed by more.

“The UK energy market is currently in a difficult situation, but the need to invest in renewable energy and technology to end our dependence on fossil fuels has been highlighted,” said founder and CEO Greg Jackson. Stated.

Former US Vice President Al Gore is co-founder and chairman of Generation Investment Management, whose battle to highlight the effects of climate change is recorded in An Inconvenient Truth and Inconvenient Sequel.

“We are pleased to announce an agreement with Generation Investment Management, which was created to help sustainable companies change the world for the better,” added Jackson.

“Three years ago, Octopus Energy management gathered to discuss growth plans for our start-ups. We saw an inconvenient sequel and said energy would be faster and cheaper around the world. We were encouraged to accelerate and expand our mission. “

Managing over £ 3 billion of renewable energy, Octopus is one of Britain’s leading generators, producing enough green energy to power approximately 1.5 million households.

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The company has also set up the Center for Net Zero, an independent research facility based in London. It is a tool that brings together the greatest and greatest brains of technology, environment, economics and policy to create research and can be used by governments and businesses around the world to accelerate clean technology and green energy updates.

We are also investing £ 10 million in R & D and training centers working to develop cheaper, more environmentally friendly home heating methods by investigating heat pump and electric boiler solutions.

Octopus has launched Electric Juice in the UK, the UK’s first electric vehicle roaming network. It has grown rapidly to over 100,000 charging points across Europe and has partnered with Tesla to launch Tesla Power in the UK and Germany.

For £ 439m, Al Gore will firmly invest in Octopus Energy.

Source link For £ 439m, Al Gore will firmly invest in Octopus Energy.

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