Octopus Energy enters USA with acquisition of Silicon Valley-based startup Evolve Energy
Just under five years ago, a small group of people in Hammersmith watched nervously as the very first customer signed up to fledging green energy supplier, Octopus Energy.
It’s been an incredible ride since then, and we’re delighted that our vision to bring cheaper, greener power to all, has already seen over 1.7 million UK homes trust us to supply them with gas and electricity.
But in May this year I wrote about how our growth thus far was only the first stage of the rocketship to unlock the power of renewables globally - we now have 17 million accounts contracted on our globally leading retail technology platform, Kraken, and are aiming for 100 million by 2027.
Kraken, our ‘big fricking robot’, not only automates energy retailing, but enables incredible customer experience along the way, and most importantly, drives the smart grid, giving customers access to cheaper electricity when renewable energy is abundant. Our innovative smart tariffs, AgileOctopus, Octopus Go, Go Faster and TeslaPower are already showing how consumers can take their place in driving the change in behaviours needed to unlock the smarter grid, globally.
And in pursuit of that growth after our acquisition of German disruptors 4hundred in 2019, today we announce the next stage of our rocket ship of growth with the acquisition of Silicon Valley-based start -up Evolve Energy - with the Evolve team, we are launching Octopus Energy US.
Evolve Energy is a similar EnTech pioneer already noted for challenging America’s legacy suppliers with its own ‘Agile’ wholesale-based tariff for the US market, an obsession with outrageously good customer service and a relentless push to clean up the old energy system with renewables.
Their AI and machine learning expertise is already optimising energy usage in Texas, providing customers with the best energy prices real time and integration with connection home devices, and speeding up the US transition to a cheaper, greener energy system.
We’re incredibly excited about this next stage in our growth, with operations now in the UK, Germany, the USA and Australia , our 100m ambitions seem high, but we haven’t missed a target yet.
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