Octopus Energy, the UK’s leading electricity supplier, has announced plans to spin off its technology division, Kraken, in a move aimed at accelerating the company’s growth. Kraken, which develops energy management software and digital solutions, has become a key part of Octopus’s strategy to innovate within the renewable energy sector.
The decision to separate Kraken into an independent entity is intended to provide the tech arm with more flexibility to expand its operations and explore new markets. Octopus Energy CEO Greg Jackson stated that the spin-off would allow both entities to focus on their core strengths while fostering innovation in energy technology and digital services.
Sources indicate that the split is expected to be completed in the coming months, with Kraken continuing to work closely with Octopus Energy during the transition. The move underscores Octopus’s commitment to leveraging advanced technology to support sustainable energy solutions and enhance customer experience in a rapidly evolving industry.