Octopus Energy Spins Off Kraken: A $15B Tech Giant?
Update: 2025-09-19
Description
Octopus Energy is spinning off its tech platform, Kraken, after securing $500 million in revenue commitments, potentially leading to a $15 billion IPO. Originally Octopus's core product, Kraken's independence will allow it to expand its client base among competing utilities. Fuelled by innovative customer programs like Zero Bills and Agile Tariff, Octopus uses Kraken's AI to integrate renewable energy sources, offering utilities a comprehensive solution for billing, customer service, and managing diverse energy sources.
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