A total of 74.5 billion yen was raised from major renewable energy companies such as Octopus and Tokyo Gas. Strengthen expansion in Japan | Business Insider Japan

Fast-growing British energy tech company Octopus Energy has raised US$550 million from existing investors.publicationdid.

Of the $550 million325 million US dollars (approximately 44 billion yen) invested in UK technology and global businessdo.

The company plans to further expand its proprietary technology platform “Kraken,” which supports the rapid growth of Octopus Energy, and invest in products and solutions to solve the energy crisis and promote the spread of renewable energy.

One of the existing investors, Tokyo Gas, told Business Insider Japan:

“We cannot disclose the specific amount, but we have decided to increase the capital through Tokyo Gas United Kingdom Ltd., a local subsidiary in the UK.”

An additional US$225 million (approximately ¥30.5 billion) will be invested by Canada’s giant public pension fund CPP Investments (CPP Investments, Canada Pension Fund Investment Board).

CPP Investment has announced Octopus as aA key innovator in the energy sector“In addition to strengthening our strategic partnership to support our UK technology sector and global operations, we would like to accelerate and strengthen our renewable power supply through Octopus’ flagship platform, Kraken Flex.”

$600 million from the investment firm of the former Vice President of the United States

Octopus Energy will also receive up to $600 million (at current rates) from Generation Investment Management, a sustainability-focused investment firm co-founded by former U.S. Vice President Al Gore, in September 2021. Approximately 81.1 billion yen) will be procured additionallypublicationWas.

Tokyo gas isAgreed to strategic alliance in December 2020and via Tokyo Gas United Kingdom Co., Ltd.Approximately $200 million (approximately 20 billion yen at the time)We established a joint venture company in Japan and have been selling 100% renewable electricity to households.

Octopus Energy CEO and Founder Greg Jackson said of the capital increase, referring to the global energy crisis:

“We will continue to do everything we can to help navigate through the energy crisis and invest in better solutions to prevent this from happening again. We need continued audacity and the backing of forward-thinking investors like CPP Investment, Generation, Origin* and Tokyo Gas.”

*Origin: Origin Energy, a major Australian comprehensive energy company established in 2000.

“Ambition” of “Japan’s largest new electric power” remains unchanged

Octopus Energy announced in January 2022Start of this service in KantoStarting with , in June, sales of real renewable energy 100% are expanding nationwide except for Okinawa.

On August 4th, a new rate plan for households owning electric vehicles (EV) and plug-in hybrid vehicles (PHV) “EV Octopus” has started to be provided.

If households with charging facilities already installed switch to this plan, not only the charging of EVs and PHVs, but also the total amount of electricity used at home will be half the price during the other hours of the night from 2:00 to 4:00. First of all, the service will be provided as a beta version for the Tokyo Electric Power area.

“Since the deployment has been completed in 46 prefectures excluding Okinawa, we will further expand the number of customers. (Japan’s largest new electric power company) Our ambition to become a new electric power company that surpasses Tokyo Gas has not changed.”

Mr. Hajime Nakamura, CEO of Octopus Energy Japan, said so, pointing out the strength of the teamwork of the entire Octopus Energy Group.

“From the Octopus headquarters in the UK, the Japanese team is receiving a lot of attention, expectations, and support. I am helping with the preparations for the initiative.” (Mr. Nakamura)

Currently, in addition to price plans for all-electric and power (commercial use), we are considering “more intelligent” plans and services that make full use of technology. We also want to expand payment methods and implement “Octopus-like efforts for demand response.”

Octopus Energy was founded in the UK in 2016. It operates in eight countries (UK, Japan, Germany, Australia, New Zealand, USA, Spain and Italy) and supplies 100% renewable energy to more than 3.2 million customers (many of them electricity and gas). purchased as a set).

We are also actively investing in renewable energy and research and development, and on August 3, we will invest a total of 400 million pounds (about 65 billion yen) in the world’s largest offshore wind farm.investmentare announced.

(Sentence·Yoko Yuda)