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Octopus Energy to Spin Off $15B Kraken Technologies

9/20/2025

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Summary

Story summary

Octopus Energy Group Ltd. plans to spin off Kraken Technologies Ltd., its utility software platform, to support growth as the UK’s largest electricity supplier.
Kraken serves over 7 million customers and has increased its annual revenue to $500 million in three years.
The spinoff could value Kraken at $14-15 billion and may lead to an IPO within a year.
Kraken's software manages electricity flows and integrates renewable energy.
This separation aims to reduce conflicts of interest for Octopus Energy.

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Story summary

Octopus Energy Group Ltd. plans to spin off Kraken Technologies Ltd., its utility software platform, to support growth as the UK’s largest electricity supplier.
Kraken serves over 7 million customers and has increased its annual revenue to $500 million in three years.
The spinoff could value Kraken at $14-15 billion and may lead to an IPO within a year.
Kraken's software manages electricity flows and integrates renewable energy.
This separation aims to reduce conflicts of interest for Octopus Energy.