Bringing together two organisations committed to delivering a more sustainable future, the innovation agreement between Octopus Group and ABB will help accelerate the transition to electric buses and commercial fleets.
Today Octopus Group announces its collaboration with ABB, the leading electrification and e-mobility technology provider.
The collaboration provides a complete solution for transport fleet operators, who can now source the financing and renewable energy supply needed to launch an EV fleet from Octopus and the required technology solutions from ABB.
Octopus has been leading innovation in financial services and clean energy for the past decade, managing more than £8 billion of assets, and generating and supplying renewable energy. Octopus has used this platform to develop new business models enabling scalable zero-emission transport initiatives. Working with ABB is a natural fit based on its leading electrification and e-mobility technologies enabling the increased adoption of sustainable mobility solutions.
Together, Octopus Group and ABB seek to explore and develop further e-mobility market offerings that will support fleet operators achieve a successful transition to zero emission transport. Operators will be able to source the required mobility investment from Octopus Group, through flexible financing models and renewable electricity supply, while ABB will provide its market leading EV charging infrastructure and energy technologies to deliver the transition to electric buses and commercial fleets, empowering new adoption levels.
The collaboration addresses the clear need to reduce emissions, with ambitious government targets and clean city initiatives in place around the world. ABB and Octopus Group bring together like-minded teams who have the resource, experience and complementary technical expertise to help meet such targets and to usher in sustainable solutions for bus and fleet, simplifying the transition to zero emission.
ABB and Octopus redefine the current transport relationship to one where more sustainable choices are viable, freeing up capital and resources to support core business growth.
Daniel Saunders, Investment Director at Octopus, commented:
“We continue to invest in ideas, people and enterprises that change the world. This collaboration with ABB embraces that spirit and our drive towards a low emission-low carbon future. By working with like-minded partners, we increase our ability to innovate and create new offerings to help realize the potential of electrified zero-emission transport and intelligent energy services that benefit society.”
Frank Muehlon, head of ABB’s global EV charging business added:
“Our collaboration with Octopus Group marks a very positive step for the wider transition of public and commercial fleets to electric on a global scale. We are proud to be working with Octopus and together we will break down the barriers o adoption and accelerate innovation in this critical field.”
Working at the forefront of EV charging technology for over 10 years, ABB has developed a broad portfolio of charging solutions for heavy vehicles and commercial fleets ranging from 3 to 600kW, with 10,500 DC fast chargers sold across 73 countries.
Fortune Magazine recently ranked ABB #8 on its list of companies that are “changing the world” for the advances it has made in e-mobility and electric vehicle charging. In its role as title partner of the ABB FIA Formula E championship and as Official Charging Partner for the new Jaguar I-PACE eTROPHY series, ABB extends its commitment to support and expand the future of smart and sustainable transport.
Octopus has been taking strides to deploy zero emission vehicles through innovative pay-as-you-drive, Sharia compliant, financing models for business users, including a fleet of up to 200 Jaguar iPaces at Heathrow Airport, and financing the iconic new electric taxis from LEVC. Its energy investment business is the largest non-utility owner of distributed renewable energy generation assets in the UK, with further investments across Europe and Australia. Its energy supply business, Octopus Energy, has also grown rapidly to over 700,000 customers and is the first and only energy company to be recommend by the Which?, the largest independent consumer body in the UK, for both 2018 and 2019.
ABB (ABBN: SIX Swiss Ex) is a pioneering technology leader with a comprehensive offering for digital industries. With a history of innovation spanning more than 130 years, ABB is today a leader in digital industries with four customer-focused, globally leading businesses: Electrification, Industrial Automation, Motion, and Robotics & Discrete Automation, supported by its common ABB Ability™ digital platform. ABB’s market leading Power Grids business will be divested to Hitachi in 2020. ABB operates in more than 100 countries with about 147,000 employees. www.abb.com
For journalists in their professional capacity only. Issued by Octopus Group May 2019.