Octopus Energy spins off its Kraken utility billing and AI platform
British renewable energy provider Octopus Energy said this week that it’s spinning off Kraken, its tech platform for utilities, spurred in part by $500 million in committed annual revenue from other utilities and energy providers. An eventual Kraken IPO could be valued at $15 billion and could occur within a year, according to The Wall Street Journal. Kraken was actually the company’s initial product, according to Octopus CEO Greg Jackson. “We created Octopus as the ‘demo client,’” he told the