Octopus Vitality is on a mission to remodel vitality globally, quicker and cheaper than anybody imagined.
We’re relentless in driving the good grid applied sciences that’ll ship cheaper inexperienced electrical energy to gasoline our properties, companies, vehicles and heating.
In doing so, we’re simply in regards to the quickest rising personal firm within the UK. We launched 4.5 years in the past as an vitality retailer within the UK, providing cheaper greener vitality with excellent service, powered by our know-how platform, Kraken.
We’re as targeted immediately on delivering excellent service as we had been the day we signed buyer primary – folks have to make use of vitality and it is not cool to make that painful. And simply as importantly, the inexperienced revolution shall be extra profitable if clients are a part of it, not subjected to it.
This mission has excited folks – immediately we’ve got 1.8m clients within the UK, we serve tens of 1000’s extra throughout Australia, the USA and Germany. We’ve acquired companies that are main the best way in good grid tech and are licensing our know-how to firms like E.ON/npower, Good Vitality and Nectr. We’ve launched Electrical Juice – the UK’s first roaming community for electrical car charging, our revolutionary vitality tariffs deliver you cheaper greener energy when the wind is blowing and solar is shining, and you may even lease electrical vehicles from us.
This transformative, whole-system strategy to the inexperienced revolution has caught the attention of firms world wide. Earlier this 12 months, we had been proud to develop into a Unicorn (valued at greater than $1bn) when Australia’s largest vitality firm, Origin, invested to gasoline our progress globally and to undertake our good know-how to deliver their very own clients cheaper greener energy.
And now we’re thrilled that Tokyo Fuel, one in all Japan’s most revered utilities, with 135 years of heritage, is partnering with Octopus to launch Octopus Vitality in Japan, and on prime of that can make investments $200m for a 9.7% stake in Octopus Vitality Group to assist drive our world renewables mission quicker.
As well as, present investor, Origin Vitality, will make investments a further $47m, taking the overall new funding to nearly quarter of a billion {dollars}, and values Octopus Vitality at over $2bn (🦄🦄)
This isn’t an achievement in itself. It’s merely the gasoline that can permit us to maintain accelerating in our dedication to drive a less expensive inexperienced revolution globally. We’ve now demonstrated lots of the capabilities and alternatives of a wise grid. We’ve proven at scale that tech can scale back prices while going inexperienced, and that clients might be the centre of the answer slightly than an afterthought.
Octopus Vitality Japan shall be run by a 70:30 Joint Enterprise, named TG Octopus Vitality. It’s going to use the identical Kraken platform because the UK, Australia, Germany, USA and New Zealand and can ship renewable and good tariffs, and pave the best way for rather more innovation and different services. There is a lengthy solution to go on renewables in Japan, with solely 18.9% of electrical energy from renewable sources final 12 months, however large urge for food to extend this and Octopus Vitality and Tokyo Fuel intend to be vital contributors to that enchancment.
More and more, our imaginative and prescient is attracting a few of the most spectacular companies and traders in vitality from world wide. We’re now getting the monetary backing to actually pace up the combat in opposition to local weather change, to take it world quick, and to problem these firms who’re making an attempt to carry again change.
Thanks to each member of our workforce who’re dedicating their careers to this, to each buyer who’s chosen us and helped make this doable, to governments and civil servants who’ve embraced this new strategy. We’ll work relentlessly to ship.
The longer term’s brilliant. The longer term’s inexperienced.
