Octopus Energy Group has announced it has closed its recent funding round, securing $325 million (£270m) from its existing shareholders.
Canada Pension Plan Investment Board (CPP Investments) has also committed an additional $225 million (£187m) to the company.
The company aims to use the funds to improve its energy platform Kraken and invest in products designed to offer greener solutions to customers.
Greg Jackson, Chief Executive Officer and Founder of Octopus Energy Group, said: “Octopus will continue to do all we can to help customers through the energy crisis, whilst investing in better solutions to make sure it never happens again.
“We are in grasping distance of a clean, cheap, secure energy system – but it needs continued boldness from innovators like Octopus and the backing of visionary investors like CPP Investments, Generation, Origin and Tokyo Gas.”
