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British Business Bank Invests £25M in Kraken Technologies Growth

1/22/2026

Summary

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The British Business Bank (BBB) announced a £25 million investment in Kraken Technologies, its largest direct investment, to back Kraken's growth after its demerger from Octopus Energy.
Business Secretary Peter Kyle said the investment signals BBB's shift to higher-risk growth bets and local backing for UK companies.
The government plans £100 million for life sciences and deep tech funds, alongside reforms to streamline operations and reduce administrative burdens.

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Story summary

The British Business Bank (BBB) announced a £25 million investment in Kraken Technologies, its largest direct investment, to back Kraken's growth after its demerger from Octopus Energy.
Business Secretary Peter Kyle said the investment signals BBB's shift to higher-risk growth bets and local backing for UK companies.
The government plans £100 million for life sciences and deep tech funds, alongside reforms to streamline operations and reduce administrative burdens.