[74], "Octopus Energy sees 160% jump in revenue but still records loss due to 'relentless investment', "Blame game begins after the failure of Bulb Energy", "Al Gore's firm buys 483m stake in Octopus Energy Group", "Octopus Energy to take on 100,000 Iresa customers", "M&S cuts ties with Big Six as it partners with Octopus for new energy brand", "Hanwha Reveals Plans of Launching "Next Generation" 100% Renewable Energy Retailer in Australia", "Hanwha Group chooses Octopus Energy technology platform for Aussie launch", "Octopus Energy and Co-op Energy confirm major 'strategic energy partnership', "About our partnership with Co-op Energy, including Flow Energy and GB Energy", "Energy Companies: Which? [12][13], In both 2018 and 2019, Octopus was the only energy supplier to earn "Recommended Provider" status from the Which? One business C360 that was subsequently acquired, was founded to pioneer a new way of using technology to drive marketing or as Greg puts it SaaS before it was trendy. Greg is also an investor in several tech start-ups and as an advisor, supports companies and entrepreneurs with fundraising, mergers, acquisitions and strategy. John moved from managing Affect Energy to running Octopus' engineering fleet and developing the UK's first Heat Pump Research & Development Centre, along with the proposition to train over 1,000 heat pump engineers a year and produce 1,000 heat pumps a month through the new Octopus Energy factory in Northern Ireland. [3][4][5][6] Jackson has trained many successful fighters, including former UFC Light Heavyweight Champion Jon Jones, former UFC Welterweight Champion Georges St-Pierre, former UFC Women's Bantamweight Champion Holly Holm, former Light Heavyweight Champion Rashad Evans, and a roster of other UFC contenders and World Extreme Cagefighting champions. [16][17], In January 2020, ENGIE UK announced that it was selling its residential energy supply business (comprising around 70,000 UK residential customers) to Octopus. The current energy crisis emerged towards the end of the legal work and due diligence that is needed for such a deal to happen, and provided a dramatic test of the companys ability to handle a large, rapidly developing challenge: We had to demonstrate to the investors that taking on Avro wouldnt get in the way of the long-term mission.. The acquisition was the first step in Octopus' $100m US expansion; at the time of the acquisition, Octopus announced it was aiming to acquire 25 million US customers, and 100 million global customers in total, by 2027. We took the 15 years it usually takes to make a vaccine, and did it in less than a year. Our researched showed that Octopus Energy has grown its domestic customer based in UK, from just 198,000 customers in 2018 to over 1.5 million customers in 2020. Our Founder, Hubert Nomamiukor organised a Q&A session with Greg Jackson, the CEO of Octopus Energy, to capture his entrepreneurial journey, influences and perspectives. [5], By April 2018, the company had 198,000 customers and had made an energy procurement deal with Shell. Our weekly culture newsletter from books and art to pop culture and memes sent every Friday. My mum is very, very politically opinionated and I have that., Jackson wont be drawn on how long the energy crisis will last: Its a fool that predicts commodity markets. [5], In December 2021, Octopus Energy announced a long-term partnership with Canada Pension Plan Investment Board, raising US$300m and taking the valuation of Octopus Energy Group to approximately $5bn. What would you say is the most important trait of a successful entrepreneurs? Tara has spent two years leading Octopus Energys 1,000 strong UK operations team through a pandemic, an energy crisis and a day that saw 2 million customers submit meter readings all simultaneously. What advice do you have for other businesses on environmental sustainability and its impact on climate change? Is it profit, value or something else? Octopus Energy is one of the fastest growing energy firms to ever launch in Britain and is on track to join the Big Six utility providers. Recommended Providers", "Best and worst energy companies for 2021 revealed", "ENGIE UK announces the sale of its residential energy supply business to Octopus Energy", "Mayor of London and Octopus Energy's London Power goes live", "Ten fast-growing scaleups drove UK tech boom in 2020, Tech Nations' report shows", "Octopus Energy acquires Upside Energy as it moves to open Manchester tech hub", "CEO Secrets: 'My billion pound company has no HR department', "FT 1000: the fifth annual list of Europe's fastest-growing companies", "UK Customer Satisfaction Index (UKCSI) Institute of Customer Service", "Octopus Energy prepares for air-source heat pump revolution", "Octopus to take on failed Avro Energy's 580,000 stranded customers", "Energy firm to create 300 Manchester jobs through city region partnership", "UK government approves agreement between Bulb and Octopus Energy, providing certainty to 1.5 million customers", "Octopus Energy reaches into Germany with 15m capture of 4hundred", "Australia's Origin Energy to buy 20% stake in UK's Octopus Energy", "Octopus Energy gains unicorn status with 1bn valuation", "Octopus Energy launches into US market with startup acquisition", "Octopus Eyes Japan's Power Market with Tokyo Gas Joint Venture", "Octopus Energy expands into Italy with acquisition of SATO Luce e Gas", "Octopus Energy expands into Spain with Umeme acquisition", "Octopus Energy raises long-term investment to value startup at $5bn", "Stream of customers moving to energy supplier Octopus slows as gas price spikes", "Octopus offers transparency with wholesale price tariff", "Thousands were paid to use extra renewable electricity on windy weekend", "New energy tariff aims to slash charging cost for electric vehicle owners", "Octopus Energy integrates with Amazon Alexa for smart energy use", "Octopus Energy and Ebico join forces to make sustainable heating cheaper", "Octopus Investments increases solar portfolio financing", "FCA clears acquisition of Octopus Renewables by Octopus Energy", "Octopus Energy takes control of group renewables unit", "Tesla Energy Plan launched inviting homes to become part of Virtual Power Plant", "Octopus leans into wind power generation", "Octopus Energy launches 'world first' local time of use Fan Club tariff", "Octopus to Raise 4bn to Expand its 'Fan Club' Model for Local Renewables", "Octopus Energy Group signs deal with Elia Group for European smart green energy grid", "Octopus makes German wind investment as it plans future Fan Club tariff expansion", "Octopus to make offshore wind core investment focus", "Octopus rebrands roaming charge service to become 'Electric Universe', "Octopus Energy choses AWS as its preferred cloud provider for Kraken", "Good Energy turns to Octopus' Kraken for customer services platform", "E.ON allies with Octopus Energy to revamp UK retail business", "E.ON hails turnaround in UK retail business with 100m earnings jump", "Two million customers migrated to Kraken powered E.ON Next in 'record time', "EDF to move 5m customers to Octopus Energy Group digital platform", "How Kraken is waking up customer service for global partners", "We're working with Octopus Energy on a Climate Change Art Prize", "How Octopus Energy used art to get people to switch to green energy", "EI Awards 2020 recognise energy sector's 'indispensable contribution', "The Solar Powered Message of COP26 | Grace Of The Sun", "Ad slots were not planned by us. Jackson reaffirmed that Octopus had not boycotted the channel. Its demoralising that we cant keep bills lower in the short term when we need it most, but we have done a tremendous amount up to now.. KrakenFlexs cloud-based technology platform controls distributed energy assets such as large-scale batteries, EVs, or heat pumps with machine learning and AI to match electricity supply and demand, helping the electricity grid deal with the natural volatility of renewable generation. [67] As a result of the campaign, Octopus registered a 163% increase in sign-ups and gained 37,000 customers. Deepak Ravindran moved over to lead Kraken Utilities from Boston Consulting Group (BCG) in 2022. reg Jackson starts each day by flicking on the radio and scrunching into his bath. Jon has worked for the last 18 years building a number of successful energy challengers, service innovators and disruptors across both Australia and the UK. Greg Jackson isnt your average energy company CEO. Pay Minimum wage; Jackson gave up his 150,000 salary when the energy crisis began last autumn, donating the rest of his original salary to Octopuss staff welfare and its financial hardship fund, Octo Assist. Greg is also a strong advocate of maintaining a good work-life balance with his work-life blend, which to him means creating a symbiotic, rather than a compartmentalised relationship between his various work commitments and personal life, so he can remain present in all of them. Day-to-day, she works closely with regulators, industry bodies and policy makers to shape the energy system of the future. A quick update on the week in companies, markets, finance and the world of work. Are you happy doing what youre doing? HR in all companies will be looking for how they can improve value to businesses, and there are always conversations to be had about alternative models from which we can all learn. Now we see this as a national security issue as well if thats not the final nail I dont know what to do.. He writes on a range of topics including inflation, Brexit, the Bank of England, the world of work and the cost of living crisis. We have a technology licensing business with big customers like E.ON and EDF, and weve invested in generation and a heat pump centre. How much of your upbringing, surroundings and environment influenced your entrepreneurial journey? I read an article recently where you said Octopus Energy dont have a HR department. We want a similar effort to the vaccine rollout, says Jackson, sweeping bags of Frazzles aside. [55], Octopus Renewables is contracted as the investment manager for Octopus Renewables Infrastructure Trust, an investment trust established in 2019 which owns wind and solar generation in the UK, Europe and Australia. Greg Jackson - Founder, CEO @ Octopus Energy - Crunchbase Person Profile Oops! The Kent areas where house prices rose the most in 2022. [54] In June of that year, the group's fund management team bought the rights to develop the 35MW Gaishecke wind farm near Frankfurt, Germany. Refresh You cant become a car dealer if you havent got the money to buy cars, says Jackson, exasperated. Please refresh the page and try again. Nov 2, 2022. Octopus Energy Group is a British renewable energy group specialising in sustainable energy. We need to work like that now on the clean energy system., [See also: The power trap: Why the energy crisis is a crisis of politics], This article appears in the 13 Oct 2021 issue of the New Statesman, Perfect Storm. Jackson explains need for market reform to move to renewable energy sooner. Gregory Jackson is an American mixed martial arts trainer who co-owns Jackson Wink MMA Academy in Albuquerque, New Mexico, widely considered one of the top MMA training centers in the world. It was the companys third major investment round since launching to the market. The boss of Octopus Energy has a small tub, which pleases him as it is efficient and fills quickly. that helped retail financial services businesses re-invent product offers online. Greg Jackson is the founder and CEO of Octopus Energy Group, the energy technology group with 3.5 million customers globally, operations in 14 countries and a 4.4bn portfolio of renewable energy assets. What we have to do now is a million times more complicated., The result of this simplified central planning could be seen the previous week, when electricity prices were colossally high, we were having to use lots of back-up supplies [and] we were literally paying wind generators in Scotland to turn off, because there werent enough cables connecting Scotland, where the electricity was being generated, to England, where we needed it., The solution, he says, is for the energy grid to become more like the internet. Octopuss other renewables ventures include a huge push to replace gas boilers with heat pumps, and investment in what will be the worlds longest subsea power cable, linking Devon to a vast solar farm in the Moroccan desert. Octopus energy is the UK's fourth largest energy provider, which boss Greg Jackson says he started because people were "paying too much" on their bills. And I'll let you know if we want your ads. After his parents split, his mother worked as a barmaid and later studied while on benefits. As a Senior Partner and Managing Director at BCG, Deepak gained extensive experience transforming legacy businesses through technology, working across the UK, Nordics, US, South East Asia and India. Octopus founding team are from tech rather than energy backgrounds and are determinedly using technology to drive down prices, enable great service and drive towards a renewable future through the smart grid, which is essential to decarbonise affordably. Sunday: 8am - 11pm, Interview with Entrepreneur - Greg Jackson - CEO of Octopus Energy. Since launching in 2018, Zoisa's team has accrued 40,000 customers, from SMEs to large organisations such as Arsenal FC. I think Im too opinionated. Prior to Affect Energy, where John built up a strong reputation for good, local customer service in Sussex, he was Managing Director of Thermabead Ltd in Worcester. You are also expanding globally into Australia and Japan, making you one of the fastest growing green energy companies globally. The investment increased the company's valuation to $4.6bn, with the cash injection to be used by Octopus to increase its investment in new technologies for cheaper and faster decarbonisation. You need to ask yourself these questions when defining your success. As of September 2022, more than 450 charging companies were taking part, allowing customers access to over 300,000 chargers in over 50 countries through a single card and/or app. KrakenFlex is currently contracted to manage over 1,600 MW of power with further 2 GWs of renewable generation to come online through 2022. What is the secret behind the growth and success of Octopus Energy? His morning routine echoes the tycoons underprivileged childhood. He also has a wealth of experience in energy efficiency and looks after Octopus energy efficiency schemes alongside metering, solar, heat pumps and EV chargers. T&Cs  Or whether we organise a boycott of you". [1] He began developing software (in the form of video games) at 16, then studied economics at Cambridge before running a mirror factory, then founding a number of technology-led businesses. Octopus Energy is also a leading investor in solar and wind energy, managing a 3.4bn portfolio of renewable energy assets across Europe. 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