Tag: Octopus Energy

Octopus invests £200m into Deep Green’s pioneering data centre heat re-use technology

Stuart Mitchell

Octopus Energy’s generation arm today announces a £200 million investment in London-based tech disruptor Deep Green to help it rapidly scale its groundbreaking technology across the UK. Processing data generates a lot of heat. The revolutionary business model pioneered by Deep Green means this heat doesn’t go to waste and instead is used to provide free heat for energy-intensive organisations like leisure centres. By teaming up with Deep Green, a public swimming pool in Devon was able to slash its pool heating bill by over 60%. In return, Deep Green…

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$800m investment to accelerate Octopus Energy’s global clean energy growth

Stuart Mitchell

Octopus Energy Group, the UK’s largest power supplier* and the owner of the Kraken technology platform, announces $800m (£625m) additional investment from its existing shareholders. This new investment values the private company at $7.8bn (£6.2bn), a 60% increase since its previous investment round in December 2021. Australian and Japanese giants Origin Energy and Tokyo Gas, one of the world’s largest pension funds, Canada Pension Plan Investment Board (CPP Investments), and sustainability-focused investors, Generation Investment Management are all participating in this round. Greg Jackson, Founder of Octopus Energy Group, said: “Octopus…

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Octopus Energy partners with Idris Elba and Siaka Stevens’ Sherbro Alliance Partners to develop Sierra Leone’s first wind farm on Sherbro Island

Stuart Mitchell

Octopus Energy’s generation arm has entered into a milestone partnership with Idris Elba and Siaka Stevens’ development company, Sherbro Alliance Partners (SAP), to build Sierra Leone’s first wind farm as part of the Sherbro Island City project. Announced at COP28, the collaboration and project will help accelerate the country’s monumental renewables opportunity and collect vital data to foster greater investment into green energy on Sherbro Island, across Sierra Leone and beyond. The deal will see Octopus build a first-of-its-kind renewables project for the country in 2024, with the potential to…

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Sky’s the limit! Octopus Energy Generation’s Sky fund surpasses £1bn mark

Stuart Mitchell

The Ireland Strategic Investment Fund (ISIF) commits £80 million to Octopus Energy Generation’s Sky fund (ORI SCSp). With this latest investment, the Sky fund has now raised over £1 billion, as it accelerates the drive towards a green energy system globally. ISIF, managed and controlled by the National Treasury Management Agency (NTMA), is a sovereign development fund with a unique mandate to invest on a commercial basis in a manner designed to support economic activity and employment in Ireland. So far, ISIF has committed over €500 million as part of…

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Octopus Energy signs up to Armed Forces Covenant

Stuart Mitchell

Octopus Energy Group has signed the Armed Forces Covenant and received the Bronze Award in the Defence Employer Recognition Scheme. The award recognises Octopus for being friendly to the armed forces and open to employing reservists and veterans who may be wounded, injured or sick. Octopus founder Greg Jackson today showed Vice Admiral Andy Kyte, Chief of Defence Logistics and Support, around Octopus’s HQ in London to meet team members who served in the armed forces or had partners who served. The energy supplier has jobs available for military veterans…

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