UK’s Octopus Energy valued at $2bn after Japan supply deal

British startup in joint venture with Tokyo Gas, which buys 9.7% stake for $200m

Octopus Energy will soon begin supplying electricity to homes in Japan under a new deal struck with Japanese utility company Tokyo Gas that values the UK technology startup at more than $2bn (£1.5bn).

The agreement received the green light from the board of Tokyo Gas in the early hours of Wednesday morning and will bring the Octopus Energy brand to Japan as part of a new 30:70 joint venture.

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