Octopus Energy Group secures £150m from Tokyo Gas to fund Japanese market entry
Tokyo Gas led a strategic partnership bringing £150m in corporate capital to support the company expansion.
Octopus Energy Group operates an energy platform that delivers renewable electricity and smart utility solutions to households. The company utilises proprietary technology to service millions of accounts globally.
Octopus Energy Group has secured £150m in corporate capital from Tokyo Gas in a strategic partnership valuing the business at over $2bn. The funding will support the launch of the company in Japan through a joint venture, alongside further international expansion and technology development.
As part of the transaction, Tokyo Gas has taken a minority equity stake backed by working capital and growth funding. The round also incorporates an additional investment from existing backer Origin Energy, as the firm continues to scale its operations and smart grid capabilities worldwide.
From the founder
"We are delighted to announce our agreement with Tokyo Gas, one of the most respected and successful Japanese utilities, to launch “Octopus Energy” in Japan. This Joint Venture will bring our exciting approach to renewable energy and technology to the world’s largest competitive energy market, and the investment will turbocharge our mission to revolutionise energy globally."
Greg Jackson
Founder and CEO at Octopus Energy Group
Investor perspective
"I believe Octopus Energy, which is delivering diversified tariffs and services using digital technology through low costs in the UK and overseas, is the most appropriate partner for Tokyo Gas. Through this partnership, we will contribute to the achievement of a better lifestyle for customers by realizing value creation and delivery tailored to every one of them."
Takashi Uchida
President and Representative Director, Tokyo Gas
Use of funds
- 01Expand into international markets
- 02Continue product development
Investors
Categories
About the company
Octopus Energy Group
Octopus Energy Group provides digital energy services and renewable electricity to global households.