Curated News
By: NewsRamp Editorial Staff
September 18, 2025
Octopus Energy Spins Off Kraken Tech Platform in Global Expansion Move
TLDR
- Octopus Energy's spin-off of Kraken creates a competitive edge by accelerating global expansion and innovation for energy utilities seeking operational efficiency and market leadership.
- Kraken's AI-powered platform processes 15 billion data points daily, automating energy supply chains to reduce costs and improve service for over 70 million accounts worldwide.
- Kraken's technology advances the global energy transition by enabling cheaper, greener power and improving grid flexibility to create a more sustainable future for communities.
- Kraken manages the world's largest virtual power plant with 2GW from EVs and home batteries, balancing grids by charging devices when energy is abundant and green.
Impact - Why it Matters
This spin-off represents a major development in the global energy technology landscape that directly impacts consumers and the clean energy transition. Kraken's AI-powered platform is revolutionizing how utilities operate, potentially leading to lower energy costs, improved customer service, and faster adoption of renewable energy technologies for millions of households worldwide. As energy systems become increasingly digital and decentralized, platforms like Kraken enable better integration of electric vehicles, home batteries, and smart devices, giving consumers more control over their energy usage while supporting grid stability. The accelerated expansion of this technology could drive down operational costs for utilities, savings that may be passed on to customers, while accelerating the transition to a cleaner, more efficient energy system that benefits both the environment and household budgets.
Summary
Octopus Energy Group has announced the strategic spin-off of its groundbreaking technology platform Kraken, marking a significant milestone in the company's global expansion. The AI-powered Kraken platform, which processes an astonishing 15 billion data points daily, is now contracted to serve over 70 million household and business accounts worldwide through licensing deals with energy giants including EDF, E.ON Next, National Grid US, Origin Energy, Plenitude, and Tokyo Gas. This spin-off will enable Kraken to accelerate investments in technology, expand into new energy markets, and drive innovation while maintaining its utility roots.
The separation comes as Kraken reaches $500 million in committed annual revenue, quadrupling its contracted revenue in just three years. To support this growth phase, Kraken has appointed Tim Wan as its new CFO, bringing valuable experience from US software leader Asana. The platform has been instrumental in transforming utilities worldwide by reducing operational costs, improving customer service, and increasing flexibility and innovation. Recent achievements include developing breakthrough solutions for commercial customers and managing over 2GW of power from EVs, home batteries, and heat pumps through its residential flexibility leadership.
Greg Jackson, Founder of Octopus Energy Group, expressed pride in Kraken's success, noting that the platform is exceeding growth expectations and may serve a billion people within the next decade. Amir Orad, CEO of Kraken, emphasized that full independence will provide more freedom to invest, expand, and serve utility clients equally while maintaining structural clarity for customers, investors, and partners. Both leaders highlighted Kraken's role in accelerating the global energy transition and positively impacting people worldwide through advanced cloud innovation, utility-grade AI, and massive energy data management capabilities.
Source Statement
This curated news summary relied on content disributed by citybiz. Read the original source here, Octopus Energy Spins Off Kraken Tech Platform in Global Expansion Move
