Draft:Kraken Technologies
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| Company Type | Private |
|---|---|
| Industry | Energy Technology |
| Founded | 2017 |
| Founder | Octopus Energy |
| Chairman | Gavin Patterson |
| CEO | Amir Orad |
| Area served | Worldwide |
| Number of employees | 2000 |
| Operating turnover FY2024 | £136.3 million |
| Website | https://kraken.tech |
Kraken Technologies is an energy technology platform developed and owned by Octopus Energy Group.
The platform is licensed by 40 utilities in 27 countries, including energy suppliers and non-energy utilities such as water, offshore wind, and telecommunications. Octopus Energy is Britain’s largest domestic energy supplier, and Kraken handles its 12.9 million accounts across gas and electricity and serving 7.3 million UK households.[1] In 2025, Kraken was contracted to manage over 70 million accounts, in 27 countries worldwide.[2]
It was reported in July 2025 that Octopus was considering a demerger of its Kraken Technologies business unit, which was speculated to have a £10bn valuation.[3][4]
Digital transformation
[edit]Octopus Energy introduced Kraken Technologies in 2017.[5][6] The platform was developed to introduce efficiencies across customer needs and operational fulfilment.[7]
Kraken's modular design integrates several delivery operations. It combines smart meter and consumption data, billing and payments, wholesale market data and marketing functions onto one platform. Kraken’s design simplicity also facilitates migration to the system of new customers and data. With only one dataset, millions of customers’ accounts can be switched far more rapidly and efficiently.[8] Operations centres also benefit, with all customer interactions held in one history, simplifying customer services – and permitting operational cost savings.
Operating on Amazon Web Services (AWS)[9], Kraken processes over 15 billion data points per day, using machine learning for analysis of complex energy provision options within renewable energy delivery. Such analysis facilitates real-time energy load balancing and optimal resource distribution.[10]
Expansion
[edit]The platform increased international adoption in 2018 when Hanwha Energy Retail Australia (Nectr)[11] utilized Kraken for billing and customer relationship management (CRM) services as it entered the Australian market.
In October 2019, Good Energy licensed Kraken to manage its 300,000 customers for an initial three-year term.[12] The following year, E.ON and its subsidiary Npower licensed Kraken to manage their combined customer base of 10 million.[13] E.ON later transitioned two million former Npower customers to the Kraken-powered E.ON Next platform.[14][15] In May 2020, Origin Energy acquired a 20% stake in Octopus Energy, obtaining rights to use the Kraken platform in Australia.[16]
2021, Kraken Technologies was contracted by EDF Energy to transition its five million customers to the Kraken platform.[17]
In 2022, the platform began expansion into the water and broadband/telecom sectors,[18] signing partnerships with Cuckoo, the broadband provider, (1 July 2023)[19][20]; Portsmouth Water (19 July 2023)[21]; and Severn Trent (13 Oct 2023).[22]
Kraken announced further international partnerships with Plenitude (Eni) on 9 May 2023,[23] serving approximately two million customers, and operating in France, Greece, Portugal, Slovenia and Spain.
In 2024, Kraken acquired the North American utility, Saint John Energy[24][25]; and partnered with German energy supplier Maingau Energie.[26][27]
Non-energy utilities
[edit]Kraken also expanded into the water and broadband/telecom utility sectors.[18] In July 2023, it signed partnerships with Cuckoo, the broadband provider(July 2023)[19][20] and Portsmouth Water.[21] In October 2023 it signed an initial partnership with water utility Severn Trent Ltd, in which the platform was used to source 100% renewable energy to power operations, and to transition its vehicle fleet to be entirely electric by 2030.[22] In November 2024, Kraken announced further adoption by Severn Trent to license the technology platform to enhance services for its 4.6 million customers. TalkTalk became the first major UK ISP to adopt the Kraken platform in February 2024.[28][29]
Financial Results
[edit]Gavin Patterson was appointed Chairman of Kraken Technologies in November 2023,[30] and Amir Orad appointed the first dedicated CEO in July 2024.[31][32]
Kraken Technologies reported revenues of £136.3 million in FY2024 and and total recurring revenue of £89.6 million, a 68% gain from FY2023. As of 30 April 2024, Kraken had £212 million contracted annual recurring revenue (CARR), was contracted to manage 64 million customers.[2]
Awards
[edit]In 2024, Kraken Technologies received the Best Use of Energy Flexibility Data and Flexibility Service Provider of the Year awards at the Flex Awards. The platform also won the Grid Edge Award at the 25th Annual Platts Global Energy Awards and the Technology Whitespace Award at the Global Energy Transition Awards 2024.
See also
[edit]References
[edit]- ^ Ambrose, Jillian (2025-01-17). "Octopus overtakes British Gas as Britain's largest household energy supplier". The Guardian. ISSN 0261-3077. Retrieved 2025-08-14.
- ^ a b "Octopus Energy Group Annual Results FY24". Octopus Energy. Retrieved 2025-02-10.
- ^ "Client Challenge". www.ft.com. Retrieved 2025-08-14.
- ^ "Octopus Energy sparks £10bn demerger of tech arm Kraken". Sky News. Retrieved 2025-08-14.
- ^ "KRAKEN TECHNOLOGIES LIMITED overview - Find and update company information - GOV.UK". find-and-update.company-information.service.gov.uk. Retrieved 2025-08-14.
- ^ Knutt, Elaine (2021-06-18). "How Kraken is waking up customer service for global partners". Utility Week. Retrieved 2025-08-14.
- ^ Sternlicht, Alexandra. "Meet the companies using AI to reinvent the energy business". Fortune. Retrieved 2025-08-14.
- ^ Lempriere, Molly (2021-03-24). "E-on hails turnaround in UK retail business with 100m earnings jump". Solar Power Portal.
- ^ "Octopus Energy choses AWS as its preferred cloud provider for Kraken - Solar Power Portal". www.solarpowerportal.co.uk. Retrieved 2025-08-14.
- ^ Darley, James (2025-02-25). "Q&A: CEO of Octopus' Kraken on AI's Use in Energy Management". sustainabilitymag.com. Retrieved 2025-08-14.
- ^ "About Hanwha".
- ^ Topalov, Milan (2019-10-09). "Good Energy turns to Octopus' Kraken for customer services platform". Current News. Retrieved 2025-02-10.
- ^ Steitz, Christoph. "UPDATE 2-E.ON allies with Octopus Energy to revamp UK retail business". U.S. Archived from the original on 2022-09-01. Retrieved 2025-02-10.
- ^ Topalov, Milan (2021-05-07). "Two million customers migrated to Kraken powered E.ON Next in 'record time'". Current News. Retrieved 2025-02-10.
- ^ Topalov, Milan (2021-03-24). "E.ON hails turnaround in UK retail business with £100m earnings jump". Current News. Retrieved 2025-02-10.
- ^ Paul, Sonali. "Australia's Origin Energy to buy 20% stake in UK's Octopus Energy". U.S. Archived from the original on 2022-12-05. Retrieved 2025-02-10.
- ^ Bose, Kiran (2021-11-04). "EDF to move 5m customers to Octopus Energy Group digital platform". Energy Live News. Retrieved 2025-02-10.
- ^ a b Earl, Nicholas (18 May 2022). "Release the Kraken! Octopus expands tech platform to water and broadband services". City Am.
- ^ a b Donegan, Michelle. "Hello, Beastie: Octopus Energy's Kraken takes on legacy tech in broadband customer service". TelcoTitans.com. Retrieved 2025-02-05.
- ^ a b "Kraken Technologies: the software that's revolutionising utilities". The Independent. 2024-07-31. Retrieved 2025-02-05.
- ^ a b "Portsmouth Water becomes first water utility to license tech platform Kraken". The Business Magazine. 2023-07-19. Retrieved 2025-02-05.
- ^ a b "Severn Trent set to revolutionise service for millions of customers with Kraken". www.waterbriefing.org. Retrieved 2025-02-05.
- ^ Viaintermedia.com (2023-05-09). "Plenitude partners with Kraken to support the growth of its international retail energy business". Renewable Energy Magazine, at the heart of clean energy journalism. Retrieved 2025-02-05.
- ^ https://sjenergy.ca [bare URL]
- ^ Wolfe, Sean (2024-05-10). "Kraken lands its first deal with a North American utility for its demand flexibility and customer platform". Factor This™. Retrieved 2025-02-10.
- ^ "MAINGAU Energie | Strom, Gas, Internet, Mobilfunk, Autostrom: Günstig, zuverlässig, deutschlandweit". www.maingau-energie.de.
- ^ Mavrokefalidis, Dimitris (2024-10-17). "Digital transformation partnership set to enhance German energy services". Energy Live News. Retrieved 2025-02-10.
- ^ Jackson, Mark (2025-02-10). "TalkTalk Become First Major UK Broadband ISP to Harness Kraken Platform". ISPreview UK. Retrieved 2025-09-11.
- ^ Sharma, Ray. "UK's TalkTalk to Migrate 2.3M Broadband Customers to Kraken Platform to Enhance CX". www.thefastmode.com. Retrieved 2025-09-11.
- ^ "Former BT chief Patterson to head Octopus Energy's Kraken arm". Sky News. Retrieved 2025-08-14.
- ^ "Octopus Energy tech arm to name CEO as valuation soars". Sky News. Retrieved 2025-08-14.
- ^ Capel, Michael (2024-08-23). "Kraken, the next-gen utility platform, appoints Amir Orad as CEO". Water Magazine. Retrieved 2025-08-14.