Octopus Energy

News Private Equity
5 mins read time 27 Sep 21

Overview

Octopus Energy is driving the renewable energy transition through its consumer solutions and grid management technology – with a vision to provide ‘decarbonisation-as-a-service’. We invested in Octopus Energy in 2021.

Our value add

The UK is targeting a fully decarbonized electricity system, which is crucial to meeting its target of being net zero by 2050 (source: National Grid Future Energy Scenarios). Octopus Energy’s aim is to power that shift.

Octopus Energy provides the infrastructure underpinning the way in which consumers purchase, engage with, and in future, manage the complexity of the renewable energy transition. Generation and Octopus Energy share a vision for the energy market’s future model: de-centralised, supply-led, with the majority of electricity generation coming from renewables. We believe new consumer technologies are critical to transitioning away from inefficient analog devices to smart digital controls. Crucially, we need to engage consumers on that journey.

Octopus Energy’s innovative Kraken technology platform is the ‘hidden’ infrastructure powering a dramatically more efficient future. Through its electricity supply and demand management system, Kraken optimises energy usage at times of lower demand – when energy prices are typically cheaper – and when renewables are powering more of the electricity grid, making it greener. Kraken aims to create a more customer-centric, renewable energy system, while reducing the costs to serve customers.

We partner closely with Octopus Energy’s mission-driven leadership team to serve new geographies and customers, while also supporting capital raises for flexible growth. In 2021 CPP Investments joined us by investing in Octopus Energy.

Octopus Energy is headquartered in the UK and serves close to five million retail customers. The company’s Kraken technology platform, which is licenced for use by several energy providers, serves 25 million customer accounts globally.