Despite the current energy crisis, UK technology and supply firm Octopus Energy is focusing on growth after its fundraising efforts increase its value to almost $5bn (£3.7m).
Founded back in 2016, the company now serves over three million businesses and households here in the UK and operates in 13 different countries.
With reports that UK companies supplying households with energy have halved due to a series of collapses over the last five months, Octopus Energy is bucking the trend, and thriving in the beleaguered market.
It has received extensive foreign investment from across the Atlantic, leading its valuation to approach leading energy provider Centrica, which owns British Gas. A total of $900m was raised by Octopus Energy from the US’s former vice-president Al Gore’s group for sustainable investment and the Canadian pension fund, known as CPP Investments.
Chief Executive at the London-based firm commented on the need to reduce the size of energy bills through investment:
“There is plenty of private sector finance available to deal with things in the energy sector and in this case, whether it be private or government, all we need is a mechanism to use it to bring down bills this year and spread the cost over a number of years.”
British companies and individual investors interested in investing in volatile markets like the energy sector are wise to seek out specialist advice beforehand. Companies providing wealth management in Shropshire, Cheshire, and other parts of the country use their up-to-date knowledge of markets and expertise to create investment portfolios that carefully balance risk and return.