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

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

2 years ago
Anonymous $WHrWmjSJBZ

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

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.