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Retail Supplier Parent To Spin Off Customer Management, Tech Platform
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Octopus Energy Group has announced the spin-off of Kraken, Octopus's billing, customer management, and technology company, "in a move aimed at speeding up the platform’s [Kraken] expansion across the globe."
Octopus said that Kraken’s AI-powered platform is now contracted to serve over 70 million household and business accounts worldwide. Octopus said that Kraken processes 15 billion new data points a day.
"The move comes as Kraken reaches $500 million in committed annual revenue through licensing deals with energy majors such as EDF, E.ON Next, National Grid US, Origin Energy, Plenitude, and Tokyo Gas," Octopus said
Kraken has appointed Tim Wan as its new CFO. Wan previously served as CFO of Asana, a work management platform and software company
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September 18, 2025
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Copyright 2025 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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