Energy Biz To Use $550M New Funds To Light Up Renewables

By Najiyya Budaly (July 27, 2022, 3:09 PM BST) -- Octopus Energy has said that $550 million of funding it has secured from shareholders will help it to spark up its technology platform and expand renewables.

Octopus Energy Group said late Tuesday that it has raised $325 million from existing shareholders and another $225 million from Canada Pension Plan Investment Board. The board is a Canadian government organization with commercial and public-policy objectives, established to invest the funds held by the Canada Pension Plan.

The British renewable energy company said it will use the money to improve its energy technology platform, Kraken, which is based on advanced data and machine-learning capabilities...

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