Octopus Energy Group today announces a major strategic partnership with Generation Investment Management, a firm established in 2004 to back businesses driving sustainability and the fight against climate change, in a deal that valued the UK entech pioneer at $4 billion pre-deal, and up to $4.6 billion post-deal.

The agreement, which has been several months in the making, will see Generation’s Long-term Equity strategy take a stake of up to approximately 13% in the business. Octopus will use the proceeds of Generation’s strategic investment to turbo boost its mission to drive the renewable revolution globally.

Octopus’s technology platform, Kraken, is already contracted to deliver outstanding customer experience, hyper efficient operations and cleaner and smarter energy solutions to 17 million energy accounts globally, through Octopus’s own retail businesses in the UK, USA, Germany, Spain and New Zealand.