The plan allows households to become part of the UK Tesla Virtual Power Plant, which connects a network homes that generate, store and return electricity to grid at peak times. Growth? A day later, Generation Investment Management, a fund chaired by Al Gore, committed to a $600m investment in Octopus. On 26 September, it was announced that Octopus would be taking on the 580,000 former customers of Avro Energy, which had ceased trading the previous week. 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. You cant become a car dealer if you havent got the money to buy cars, says Jackson, exasperated. Whos Here   [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. For those that don't know Octopus Energy, they are UK's fastest growing green energy retailer and are currently valued at $2 billion. She loves supporting kind, high performing teams and individuals who want to positively change the world. Im just gobsmacked anyones opposing this., Does being a flag-bearer for green energy get him in hot water at dinner parties? 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. With its smart tariffs proving customer appetite for flexibility, Octopus is pioneering a global system change to enable a cheaper, faster transition to renewables. Prior to joining Octopus Energy as Director of Operations, Tara spent three years at Tesla helping scale their service organisation in the UK & Benelux and as Country Manager for the UK. He has never taken a bonus, and owns a 6% stake, worth about 240m. Tellingly, before the age of 30, he had owned and/or managed a number of small businesses employing 4-60 people and turning over 400k to 4m. Last month Octopus pledged 50m to cut customer bills until Octobers price cap rise, part of a longer-term package worth 150m. 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. What inspired this leadership technique and what are the pros and cons of Octopus Energy not having a HR department? Jackson came from a family of wrestlers (his father, brother, and uncle were all champions in the sport). Refresh 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. Samuel Leroy Jackson (Washington D. C., 21 de diciembre de 1948), conocido como Samuel L. Jackson, es un actor y productor de cine, televisin y teatro estadounidense.Ha sido candidato al Premio scar, a los Globos de Oro y al Premio del Sindicato de Actores, as como ganador de un BAFTA al mejor actor de reparto y en 2022 se le entreg un scar honorfico a su trayectoria profesional. Deepak Ravindran moved over to lead Kraken Utilities from Boston Consulting Group (BCG) in 2022. What is the secret behind the growth and success of Octopus Energy? Read more . The customer accounts will be migrated onto Kraken from 2023, increasing the number of energy accounts contracted to be served via Kraken to over 20million worldwide. Octopus took on 600,000 customers from bust Avro Energy last year, and Jackson accuses the administrators of arguing and quibbling over completely unimportant technical points. He spends around an hour each day dealing directly with customers to understand that experience better, along with discussing trade-offs such as pricing strategy and infrastructure. 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 day later, Generation Investment Management, a fund chaired by Al Gore, committed to a $600m investment in Octopus. Jackson reaffirmed that Octopus had not boycotted the channel. Despite the current crisis of price and supply in the gas market, its described by BP as resilient and by Centrica as more affordable than other energy sources. What defines a successful entrepreneur? Rumours are that he may be training Zack "The Assassin" Stiles, 16 year old, in the future. Greg: Octopus is unusual. 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. Please refresh the page and try again. Greg: Passionate young people who believe in our mission. [25], In 2021, Octopus built the UK's first R&D and training centre for the decarbonisation of heat. He began his career at consumer goods giant Procter & Gamble before running businesses including a coffee shop and a mirror manufacturer. [28], In October 2022, Octopus reached an agreement to acquire Bulb Energy's 1.5 million customers. Britains failure to invest in renewables led us into the gas crisis, says Jackson, and a revolution in energy supply and policy is urgently needed. Prior to that Stuart spent 6 years with Barclays Bank, including a stint running a 5bn credit card business and 10 years as a strategy consultant. Origin invested a further $50m at the same time, to maintain its 20% stake. Support 100 years of independent journalism. This interview was originally published on our sister platform, ChangeinAfrica Magazine, the content is wholly owned by Innoglo Ltd. Mon - Fri: Respond with 24 hrs With the crisis that toppled so many suppliers continuing to rage, Jackson thinks the chancellor, Rishi Sunak, is right to plough 15bn into addressing the cost of living: It makes economic sense for the government to find ways to bring bills and inflation down. [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. [68][69], In November 2021 Octopus financed 'Grace of the Sun', a large-scale art piece by Robert Montgomery made using the Little Sun solar lamps designed by Olafur Eliasson and Frederik Ottesen. These days, Greg Jackson is the founder behind the only energy company recommended by Which?. Energetic and emotionally intelligent, Tara has almost 20 years of experience in developing breakthrough customer strategies and bringing out the best, most caring sides of individuals and teams doing the most vital of jobs, customer operations. There are companies whose entire asset base [is] in gas, he continues, and they will relentlessly try to tell us gas is the solution, or hydrogen is the solution. The companys flexibility platform KrakenFlex will be used together with Elia Groups energy data affiliate, re.alto, to enable electric vehicles, heat pumps and other green technologies to be used for grid balancing. Greg is an experienced digital entrepreneur, passionate about making the green energy revolution affordable through technology. About Greg Jackson: Greg is an experienced digital entrepreneur, passionate about making the green energy revolution affordable through technology. About   [32] In September of that year, Octopus acquired Evolve Energy, a US Silicon Valley-based start-up, in a $5m deal. Interview with Entrepreneur - Greg Jackson - CEO of Octopus Energy. The first nail in the coffin should have been climate change, then it should have been the fact that renewables are now cheaper than fossil fuels. Will Dunn is business editor of the New Statesman. With the pandemic, we took the 15 years it usually takes to make a vaccine, and did it in less than a year. A lot of people have different views of what it means to be an entrepreneur and if this is different from being a businessman or woman. Profit? This platform was created 50/50 by our tech team and our customer service team, and is worked on and tweaked constantly to create the best process for the team who are looking after customers. Octopus Energy Group is a British renewable energy group specialising in sustainable energy. Located in Slough, the centre will train 1000 heat pump engineers per year and develop new heating systems. Having been in the industry for over 20 years, he has founded a number of businesses that he took to sale, including Affect Energy, which became part of the Octopus Energy Group in 2018. Octopus online presence consistently scores highly with consumer watchdogs and thanks to Rebecca, our customer-centric marketing has helped us achieve exceptional customer growth and the Which? The project, which coincided with COP26, was realised in Glasgow through collaboration with the local art community, and was designed as a call for global leaders to invest in renewable energies such as solar PV, in order to power a sustainable future. Devrim is the CEO of KrakenFlex, formerly Upside Energy, which joined the Octopus Energy Group in 2020 to add another layer of capabilities to Octopus's energy technology platform, 'Kraken'. He also served as Director of several innovative businesses, including Zopa, the worlds first peer-to-peer lender, which has now lent almost 2bn fairly and responsibly. Clem joined Octopus from a career in political consultancy for the renewable energy and clean tech sectors. . [26], In September 2021, Octopus was appointed as the Supplier of Last Resort (SOLR) for Avro Energy, acquiring Avro Energy's domestic customers and increasing their customer base to 3.1m customers. [20], In November 2020 Octopus acquired Manchester-based smart grid energy software company Upside Energy, which in June 2021 rebranded as KrakenFlex. [66] The campaign artwork was exhibited at over 5,000 sites, making it the largest ever digital out-of-home (DOOH) art exhibition. We are also able to license out Kraken to other energy companies, allowing them to make use of the same efficiencies. Jackson said the size of the supplier with 1.5 million customers meant there was no viable route for the business to be taken on by a competitor before its collapse. You can tell if someone grew up in a cold house: we often prefer baths when you get out of the shower you get a real shock, he says. Our last question before ending this interview is around environmentally sustainable businesses and their impact on climate change. Spaces are limited for this very special event so make sure you dont miss out by signing up, To be the first to hear about our events, get immediate access to new podcast episodes, and hear news picked just for you . Greg: No country is off limits to Octopus Energy, we aim to bring cheaper, greener energy and world-class customer service to many people all over the world. After graduating I joined Procter & Gamble and went through management training, owned and turned around a number of small ventures, and I even managed a factory that made and sold Mirrors at one point. Weve never made a profit and were going to, but weve ploughed everything were going to make into customer support so were not going to make one this year, he says. Upon the acquisition, Octopus announced it was targeting a million Spanish energy accounts under its brand by 2027. Family In a relationship; has two children from previous partners. [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. Nov 2, 2022. The migration was hailed as being responsible for E.ON's financial recovery in the UK. We have an aim to reach over 100 million customers by 2027, whether thats via other companies licensing Kraken or customers joining Octopus Energy, so we never say never for any country or continent, even if we dont have any plans to at the moment. The New Statesmans weekly environment email on the politics, business and culture of the climate and nature crises - in your inbox every Thursday. People thought electric vehicles wouldnt take off but look at Tesla now. Octopus and Tokyo Gas agreed to launch the Octopus brand in Japan via a 30:70 joint venture to provide electricity from renewable sources, amongst other services. In November 2021, Octopus acquired Italian energy retailer SATO Luce e Gas, rebranding the business as Octopus Energy Italy, investing an initial 51m and targeting 5% of the Italian market by 2025. [34], In August 2021, Octopus entered the Spanish market with the acquisition of green energy start-up Umeme. Climate change is no longer this vague thing: people are literally baking in India and Pakistan, he says. It takes seven years to get a windfarm through the planning process and connected to the grid. [33], In December 2020, Tokyo Gas paid about 20 billion yen ($193 million) for a 9.7% stake in Octopus, valuing the company at $2.1bn. It has enabled us to lower our costs to serve up to 75% compared to some of our competitors Thanks to Kraken, we are able to scale our customer service team quickly to take on new customers and keep them happy. She has done this all while maintaining some of the very best customer service ratings in the industry. Stuart Jackson is the Co-Founder and Chief Financial Officer of Octopus Energy. 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.. [58], Octopus Energy licenses their proprietary customer management system called Kraken, which runs on Amazon's cloud computing service. Octopus is his magnum opus, taking on the tired, old energy market . Epitomising the agile leadership that is synonymous with disruptive businesses, Zoisa leads both the generation the business retail arm of Octopus Energy. We are doing the same thing in clean, green energy. Deepak is a successful entrepreneur himself, taking the tech business he founded from concept to IPO. 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. Greg: Our proprietary technology platform, Kraken, enables our operating model and efficient customer service. .more. You cant centrally plan a system thats got 20 million electric cars, two million houses with solar panels, a million houses with batteries, and 5,000 large-scale wind and solar farms.. Theyre not doing it because they care about the planet, and theyre not doing it because they care about bills.. Its actually more than that: bringing down energy costs is one of the reasons I started the business, he says. I literally dont get invited to them. Last holiday Cotswold Water Park, with family and friends. Upstream reported that Jackson joined Greenpeace at the age of 16, and his expertise was in mirror manufacturing, coffee shops and software before launching Octopus Energy in 2015. 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. Greg Jackson, Founder & CEO. My Entrepreneurial Journey with Greg Jackson on Thursday, 21 November. [24], In July 2021 Octopus rose 12 places on the UK Customer Service Index to 17th, making it the only energy company in the Top 50. We need to learn from the pandemic, Jackson says. Greg: If I could change anything I would have trusted myself more, as I could have started Octopus Energy five years earlier than I did! 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. Jackson and his family moved to Albuquerque, New Mexico when he was three years old. 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. Jackson, 50, grew up near Middlesbrough. I speak to tech founder and CEO of Octopus Energy Greg Jackson about how he used tech as the platform to disrupt one of the industries most resistant to, and in need of disrup Show Leaders in Cleantech, Ep Greg Jackson, Octopus - 75 - Apr 8, 2021 There are bright pink octopus toys dotted around the half-full offices, and crisps and sweets on a communal table. In September 2021, Octopus Energy Group was valued at approximately $5 billion following a $600 million investment from Generation Investment Management and a $300 million investment from Canada Pensions Plan Investments Board. Greg Jackson - Founder, CEO @ Octopus Energy - Crunchbase Person Profile Oops! His morning routine echoes the tycoons underprivileged childhood. Theyve been characterised as inexperienced and foolhardy for not hedging their energy far enough in advance. Rachel holds a Bachelors degree in Economics from the University of Sussex, as well as a Masters in Economic and Politics from the University of Cambridge. [21], The same month saw Octopus launch the not-for-profit Octopus Centre for Net Zero (OCNZ), a research organisation tasked with creating models and policy recommendations for potential paths to a green energy future. [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? Sign up to receive information regarding NS events, subscription offers & product updates. We then realised the change within the energy industry we could enable with a strong technology platform underpinning us, and thats how Octopus Energy came about. Octopus is also unusual in that, as well as selling to consumers, it derives more than half its value from the technology it licenses to other businesses in the UK and around the world (a model reminiscent of Amazon). Currently, Octopus Energy has more than 750,000 customers with 100 per cent renewable electricity, despite only setting up three years ago. All drivers can use the service, and Octopus Energy customers have the option of paying their charging costs through their domestic energy bills. One department looks after Electric Juice, a service that lets customers add car-charging payments to their electricity bill. Stuart has a degree in Economics from Cambridge University. A relaxed evening talking with Greg Jackson, the founder and Phil Steele Future Technology Evangelist of Octopus Energy.You can email the Octopus team as ref. How would you define a successful business leader? Greg is the founder and CEO of Octopus Energy Group, the green energy tech pioneer based in the UK with over 3.1 million customers, further operations in 13 countries and over 23 million accounts licensed worldwide to its green technology platform, Kraken. 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. James has been instrumental in the creation of Octopus Energys proprietary technology, digital-first offerings and its global expansion. Greg is an experienced digital entrepreneur, passionate about using technology to make positive change. If the problem persists, please contact support. The collection of projects reflects Jacksons entrepreneurial background. Registered number: 09263424. Update your browser for a better web experience, here and all over the internet. Energy companies around the world still maintain that natural gas (perhaps cleaned up with a puff of hydrogen) is the transition fuel that will take us to net zero. A weekly newsletter helping you fit together the pieces of the global economic slowdown. [47][48], In October 2020, Octopus partnered with Tesla Energy to power the Tesla Energy Plan, which is designed to power a home with 100% clean energy either from solar panels or Octopus. You can meet Greg Jackson and hear more about where he got where he is today at My Entrepreneurial Journey with Greg Jackson on Thursday, 21 November. Jackson, 50, grew up near Middlesbrough. He's founded a number of successful businesses, including e-commerce company C360, built HomeServe's innovation business and is an angel investor in a wide range of tech start-ups. Octopus Energy is currently value at $2 billion, how did this evaluation come about? He believes his thrifty upbringing allows him to empathise with struggling customers. You also cannot deny the sheer will and determination of Jeff Bezos, and how he has managed to create not only the worlds largest online shopping and delivery site, but also revolutionise cloud computing via AWS, something we have made huge use of with our business. The engineering part only takes a year.. You are also expanding globally into Australia and Japan, making you one of the fastest growing green energy companies globally. London Tuesday 8th November - This evening, the founder and CEO of Octopus Energy, Greg Jackson, joined consumer champion Martin Lewis on his flagship TV show on ITV. If you could do it all over again what would you do differently in your entrepreneurial journey? Alongside its tech, all Octopus marketing is developed in-house, from design and copy through to booking, sitting side by side with operations and customer support. Greg: When I meet all of our new starters - which I always make sure to do during introductory training - the ones that stand out to me are the ones that ask themselves what they can do for the company, rather than what the company can do for them, they look at their own skills and wants, see what they can bring to the table and do their best. How much of your upbringing, surroundings and environment influenced your entrepreneurial journey? He says it took years to find the 10m he needed to launch Octopus. Cheap energy bills arent coming back this decade, Christopher Harborne: the silent donor behind Brexit and Boris Johnson, Sherif Tawfik: The Middle East and Africa are ready to lead on the climate, The power trap: Why the energy crisis is a crisis of politics, Elon Musk was never really the worlds richest man, Why Jeremy Hunt is gambling with thousands of small businesses, The year woke broke: a brief history of a contested word, Why Britains economy has never been worse, with Duncan Weldon, The good social network: what Twitter could learn from the coffeehouse Audio Long Reads, Facility / Grounds Management and Maintenance, HR, Training and Organisational Development, Information and Communications Technology, Information Services, Statistics, Records, Archives, Infrastructure Management - Transport, Utilities, Science and Technical Research and Development. 1.5 million customers 25 ], in October 2022, Octopus reached an agreement acquire... 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