Origin Energy has agreed to make a strategic investment in energy supplier Octopus Energy for a total of $327m.
UK-based renewable energy supplier Octopus Energy has secured A$507m ($327m) from utilities company Origin Energy, Reuters reported on Friday.
The transaction will give Origin Energy a 20% stake in Octopus Energy. The corporate will provide the investment in tranches over four financial years, with $98.7m released immediately.
Founded in 2015, Octopus Energy is an electricity and gas retailer focused on the UK market that relies exclusively on renewable energy and enables customers to carbon offset their gas.
The company has…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
