Al Gore puts $600M into UK Green energy-tech startup Octopus Energy Group

[Uncle Joe]

Former Vice President Al Gore has invested $600 million of equity into UK energy startup Octopus Energy Group via his Generation Investment Management vehicle, taking a stake of approximately 13% in the business. The investment means Octopus has attained a valuation of around $4.6 billion.

Octopus has made a name for itself in energy circles largely because of its ‘Kraken’ technology platform, which it claims is able to re-route energy from renewable sources around a network far more efficiently than competitors. Octopus is now managing 17 million energy accounts in 12 countries in this manner.

Generation is a $36 billion fund management business with a specific remit to back sustainable businesses.
 Octopus will use the proceeds of Generation’s strategic investment to push further into the US market, where it already has a toe-hold in Texas.

The Generation investment follows an earlier equity investment from Origin Energy, Tokyo Gas, and the acquisition of Upside Energy, specialists in smart grid technology. Octopus’s retail businesses are now in the UK, USA, Germany, Spain and New Zealand, plus it has licensing agreements with Good Energy, Hanwha Corporation, Origin Energy, Power, and E.ON.

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https://techcrunch.com/2021/10/01/al-gore-puts-600m-into-uk-green-energy-tech-startup-octopus-energy-group/

For some reason this article made me want to say "Release the Kraken!"