Octopus Energy Group announced the spin-off of its AI-powered technology company, Kraken, aiming to fast-track its global expansion and investments. Kraken, which serves over 70 million accounts, has quadrupled its contracted annual revenue to $500 million in three years.

This strategic move allows Kraken greater autonomy to innovate and penetrate new energy markets, strengthening its position as a leading data-driven operating system for utilities worldwide. The separation also provides structural clarity for its diverse client base and investors.