Octopus Energy valuation jumps to nine billion dollars as investors double down

Octopus Energy’s valuation has jumped nine billion US dollars after two of its biggest investors increased their stakes in the business.

CPP Investments, which manages about 590.8 billion Canadian dollars-worth of assets, increased its stake to 12%. The latest estimate comes after Octopus closed its last funding round in December, when it raised 800 million US dollars. The eight-year-old company overtook Centrica-owned British Gas, which had been the largest supplier for the last 20 years, according to Ofgem data.

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