Tech Affiliate Of Texas Retail Provider To Open First U.S. Headquarters In Houston -- EnergyChoiceMatters.com

Tech Affiliate Of Texas Retail Provider To Open First U.S. Headquarters In Houston

Will Develop New Retail Electric Products In Concert With Its Affiliate REP

June 2, 2022

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Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

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Octopus Energy Group has today announced that its software licensing arm, Kraken Technologies, will open its first U.S. headquarters in Houston, Texas.

As previously reported, Octopus already operates a Texas retail electric provider, Octopus Energy LLC, and is in the process of receiving licenses in various Northeast states

"Kraken Technology developers in Houston will work hand-in-hand with the Customer Operations arm at Octopus Energy in the U.S. to enable constant innovation and upgrades to the platform to better serve customers, utility clients and partners. It will also benefit the scale of Kraken as it hopes to enter even more states and markets in North America," Octopus said

Among other things, "Kraken is ... designed to leverage smart metering, such as smart thermostats, to understand customers’ real-time energy usage, as well as management and optimization of power assets–such as EVs, solar energy, and batteries. Its flexibility arm, KrakenFlex, allows the platform to connect with a whole host of clean energy technologies, allowing it to control, dispatch and optimize those devices to match real-time energy demand and supply," Octopus said

"Within the first year, Octopus will create at least 50 new green jobs, with opportunities for further scaling as its U.S. arm continues to grow," Octopus said

"Texas’ energy transition is continuing to accelerate, and with the recent inflation in fossil fuels, it has never made more sense to switch to solar, storage, wind, and EVs. To leverage this opportunity, technology will need to underpin the role of these assets to unlock the lowest cost nature of this rapidly changing grid. Kraken Tech, which has already allowed Octopus Energy U.S. to double its customers in 2022 alone, and offer Intelligent Octopus, an integrated demand response, fixed-rate energy plan, so customers have access to cheaper electricity when renewable energy is abundant, is perfect for this," said Michael Lee, CEO of Octopus Energy U.S. "There are incredible opportunities coming to play in Texas this year and I couldn’t be more thrilled to have Kraken Technology on the ground in Houston with us."

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