{"id":342709,"date":"2025-12-30T11:27:07","date_gmt":"2025-12-30T11:27:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/342709\/"},"modified":"2025-12-30T11:27:07","modified_gmt":"2025-12-30T11:27:07","slug":"octopus-energy-to-spin-off-8-65bn-tech-arm-kraken","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/342709\/","title":{"rendered":"Octopus Energy to spin off $8.65bn tech arm Kraken"},"content":{"rendered":"<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Kraken uses AI to automate customer service and billing for energy companies and can manage when customers use energy, rewarding them for reducing consumption at peak times.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">It was initially built for use by Octopus but has since picked up a raft of other utilities clients, including EDF, E.On Next, TalkTalk and National Grid US. It now serves 70 million household and business accounts around the world.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">The majority of the $1bn investment will go to Octopus to fund its expansion, with Kraken receiving the rest. Mr Jackson said Kraken will be operating completely independently of Octopus &#8220;within a few months&#8221;.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Other investors in the business included Fidelity International and a unit of Ontario Teachers&#8217; Pension Plan, with Octopus maintaining a 13.7% stake in Kraken.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Kraken chief executive Amir Orad said the spinoff would give it the &#8220;focus and freedom&#8221; to grow, with the company having previously struggled to do business with Octopus&#8217;s rivals.<\/p>\n","protected":false},"excerpt":{"rendered":"Kraken uses AI to automate customer service and billing for energy companies and can manage when customers use&hellip;\n","protected":false},"author":2,"featured_media":342710,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[49,50,51,47,52,48],"class_list":["post-342709","post","type-post","status-publish","format-standard","has-post-thumbnail","category-headlines","tag-headlines","tag-news","tag-top-news","tag-top-stories","tag-topnews","tag-topstories"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/342709","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=342709"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/342709\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/342710"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=342709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=342709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=342709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}