Bringing together two organizations committed to delivering a more sustainable future, the innovation agreement between ABB and Octopus Group will help accelerate the transition to electric buses and commercial fleets.
ABB announces its collaboration with UK headquartered financial services and clean energy firm, Octopus Group.
The collaboration provides a one-stop-shop solution for operators, who can now source the financing and renewable energy supply needed to launch an EV fleet from Octopus and the required electrical infrastructure solutions from ABB.
As a pioneering technology leader committed to writing the future of mobility and energy, ABB is constantly looking for innovative ways to drive increased adoption of sustainable mobility solutions. Working with Octopus Group is a natural fit based on its delivery of innovative zero-emission transport initiatives, and its considerable contribution to renewable energy generation and supply.
Together, ABB and Octopus Group 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.
Frank Muehlon, head of ABB’s global EV charging business commented: “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 to adoption and accelerate innovation in this critical field.”
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, added: “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.”
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 600,000 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.
Octopus is a group of innovative, entrepreneurial businesses investing in the people, ideas and industries that will help to change the world. We are experts in financial services and energy, transforming these markets by offering our customers access to smart and simple solutions that do what we say they will. Today we manage more than £8 billion on behalf of retail and institutional investors. Octopus Energy, Octopus Investments, Octopus Energy Investments, Octopus Real Estate, Octopus Ventures and Octopus Wealth are all part of Octopus Group. Visit octopusgroup.com.
ABB 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
