HomeJuly 28, 2022
Parent Of Retail Supplier Completes Fundraise With Existing Investors, Totaling $550m
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Octopus Energy Group closed its recent funding round, securing US$325m from its existing shareholders on terms agreed during the fundraising round in December 2021.
"Octopus Energy Group’s investors have further backed the company’s global expansion and renewables strategy, with all of them meeting or exceeding commitments made last year," the company said
"The company plans to use the money to further improve its energy technology platform, Kraken, and invest in products and solutions that can help solve the energy crisis and drive renewables at scale," the company said
The Canada Pension Plan Investment Board (CPP Investments) has committed an additional US$225m to Octopus’ efforts, "to accelerate and enhance the integration of renewables in the power system including through leveraging Octopus’ leading KrakenFlex platform," the company said
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