## Kraken Utility Platform Spins Off from Octopus Energy
Octopus Energy has announced the spin-off of its acclaimed utility billing and customer management platform, Kraken, into an independent company. This strategic move positions Kraken, renowned for its advanced AI and data-driven capabilities, to accelerate its mission of transforming operational efficiency across the global energy and utilities sector.
Originally developed in-house, Kraken powers Octopus Energy’s operations and is already licensed to over 50 energy and water companies worldwide, managing more than 54 million customer accounts. The spin-off will allow Kraken to operate with greater autonomy, enabling it to pursue new partnerships and further innovate its Software-as-a-Service (SaaS) offering for a broader range of international clients.
Octopus Energy will remain a major client and shareholder, maintaining a close strategic relationship with the newly independent entity. This development is expected to boost Kraken’s adoption, offering utilities a proven solution for significant cost reductions and enhanced customer experiences.