Octopus Energy Group has announced it will spin off Kraken, its fast-growing AI-powered technology arm, in a move designed to accelerate its expansion into global energy markets.
Kraken, launched within Octopus in 2019, has become one of the most advanced operating systems for utilities worldwide. The platform is now contracted to manage more than 70 million household and business accounts and processes 15 billion new data points every day.
The spin-off is seen as a major strategic milestone for Octopus Energy, providing Kraken with the independence and capital to expand its technology offering, enter new markets, and attract fresh investment.
Octopus Energy has already reshaped the UK energy market, becoming the country’s largest energy supplier earlier this year with 7.7 million households now on its books. Kraken’s technology underpins that success, enabling flexible pricing, fairer billing, and improved customer service.
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