Multiple UK Customer Experience Awards winner and entech pioneer Octopus Energy today launches in Germany on a mission to disrupt the market and deliver contract freedom and innovative tariffs for customers.
The new business Octopus Energy Germany is targeting 1 million customers by 2024. The company is entering the new market with initial investment of €80 million.
Octopus Energy first entered the market with the acquisition of Munich-based energy startup 4hundred in September 2019. After a year of this acquisition, Octopus Energy Germany is now ready to start its rollout.
The move marks the latest step in Octopus’s international expansion, following recent launches in the US and operations in Australia. The renewable energy supplier is the UK’s fastest-growing private company, having gained 1.7 million customers since launching 4 years ago.
At the heart of Octopus’s success is Kraken, its proprietary cloud-based energy technology platform. The scalable platform provides industry leading operational efficiency and outstanding service quality.
Octopus Energy has an extensive track record of participating in UK Customer Experience Awards, UK Employee Experience Awards, and UK Digital Experience Awards with quite a number of wins over the years.
Octopus Energy will offer German customers access to cheaper, greener power for their homes and electric vehicles. What’s more, energy prices will be transparent, without nasty surprises, and customers will have the freedom to switch whenever they want. Customers will also enjoy many of the perks that Octopus Energy provides in the UK, including relentless focus on customer service excellence and innovative tariffs to make green energy cheap energy.
Octopus Energy CEO and founder Greg Jackson said: “It’s been a very exciting year in which we learned about the German market and welcomed 4hundred into the Octopus Energy family. Now we’re ready for our big launch, and I’m delighted that our German team, which already includes 30 brilliant minds, will lead our push into the market.”
Andrew Mack, CEO of Octopus Energy Germany, said: “Germany took an early lead in the green energy transition, serving as a role model to many other countries around the world. But despite the impressive achievements in greening its power generation, Germany now has the highest prices for electricity in Europe – which is why customers are still reluctant to adopt clean technologies such as electric cars or heat pumps.
“Our tech-enabled tariffs will give German households and EV owners access to cheaper greener power, supporting the government in its efforts to supercharge the uptake of EVs and reach its 2030 climate goals.“