Kraken Technologies Limited will expand its U.S. presence by establishing a second global headquarters in Lower Manhattan, New York City. The company will lease and build out approximately 10,000 square feet of office space, creating 111 new jobs over the next five years. Supported by up to $1.11 million in performance-based Excelsior Jobs Program tax credits from Empire State Development (ESD), the project reinforces New York’s status as a global center for technology, innovation, and artificial intelligence.
“Opening our new office at 99 Hudson Street in New York will mark an important milestone in Kraken’s U.S. journey,” said Rajiv Shah, Kraken VP of Global Regulation and Markets. “Following the announcement of our partnership with National Grid earlier this year, establishing our global co-headquarters here underscores our confidence in the region’s innovation ecosystem and talent and reaffirms our commitment to a major expansion into the U.S. utilities market. We’re incredibly grateful to Empire State Development for its generous support through the Excelsior Jobs Program, which is helping us accelerate growth, create high-quality jobs, and advance our mission to build the AI-powered energy systems of the future.”
(Photo: Adobe Stock / Marco)
Kraken’s new Lower Manhattan headquarters will serve as its North American hub, supporting engineering, delivery, marketing, and operations teams as the company expands its U.S. footprint. The decision to anchor its global co-headquarters in New York reflects Kraken’s confidence in the region’s technology leadership, talent pool, and innovation ecosystem—and aligns with increased demand for AI-driven solutions that modernize utility operations and improve customer experience.
Kraken is joint-headquartered in London and New York, with regional centers in Paris, Tokyo and Melbourne. The company is contracted to serve over 70 million customer accounts globally, including 6.5 million National Grid customers across Massachusetts and New York through its first major U.S. partnership. Kraken’s AI-powered platform processes over 15 billion data points per day, helping utilities boost operational efficiency and improve customer satisfaction while managing the world’s largest residential virtual power plant.
“Kraken Technologies’ decision to establish its North American headquarters in Lower Manhattan is a powerful example of New York City’s ability to attract global companies seeking to scale,” said ESD President, CEO, and Commissioner Hope Knight. “This expansion will create more than 100 high-quality jobs and demonstrates that innovative, AI-driven companies recognize New York as the place to build, invest, and grow. ESD is proud to support Kraken’s growth through the Excelsior Jobs Program as we continue strengthening the state’s technology sector and economic competitiveness.”
“We are thrilled that Kraken Technologies chose New York City’s Lower Manhattan neighborhood for its second global headquarters, a move that will create over a hundred jobs,” said New York City Economic Development Corporation (NYCEDC) President & CEO Andrew Kimball. “As the applied AI capital of the world, home to a robust green economy ecosystem, and top destination for young talent, New York City is the perfect place for Kraken Technologies to expand its North American presence. Our business development team will continue to support Kraken Technologies to build lasting partnerships as they establish roots here.”