4hundred was founded in January 2017 by Ilona Ludewig and Andrew Mack. The Munich-based Startup specializes in the distribution of green electricity. Two and a half years later, the British company Octopus Energy acquired 4hundred. Founded in 2015, the London-based company supplies 1.7 million customers with green electricity and gas and, according to its own figures, is valued at €1.5 billion.
"We've had a very exciting year getting to know the German market and integrating 4hundred into the Octopus family. Now we're ready for the big rollout. I'm delighted that our fantastic 30-person team will be managing our market entry from Germany's tech capital, Munich,"
so Greg Jackson, Managing Director and Founder of Octopus Energy.
"Our proximity to the automotive industry is a good fit for us. As we already do in the UK, we will also offer innovative green electricity tariffs for new electricity consumption profiles in Germany. Tailor-made tariffs for e-car drivers are at the top of our list."
Octopus Energy Germany aims to have one million customers in the next four years.
The British are now investing 80 million euros in their German subsidiary to achieve their goal of acquiring one million customers in Germany by 2024.
Andrew Mack, co-founder of 4hundred and Managing Director of Octopus Energy Germany, says:
“We are confident that with our market expertise and our industry-leading technology platform, we can soon achieve positive change in the German energy sector and become a strong player in the market.”
