An investment fund founded by Al Gore will invest up to $600m into UK-based Octopus Energy, a major challenger to traditional utility dominance in its home market and owner of a significant renewables generation fleet.

Gore’s Generation Investment Management will take a stake of up to 13% in Octopus, a deal CEO Greg Jackson said could make a “dream come true” for a company whose founders were inspired by the former US vice president’s campaigning films.