Kraken Technologies

Kraken Technologies is a British energy technology company developed and owned by Octopus Energy Group.

The platform is licensed by 40 utilities in 27 countries, including energy suppliers and non-energy utilities such as water, offshore wind, and telecommunications. Octopus Energy is Britain’s largest domestic energy supplier, and as of 2025 Kraken handles its 12.9 million accounts for supply of gas and electricity to 7.3 million UK households.[1] In 2025, Kraken was contracted to manage over 70 million accounts, in 27 countries worldwide.[2]

History

Octopus Energy introduced Kraken Technologies in 2017.[3][4] The platform was developed to introduce efficiencies across customer needs and operational fulfilment.[5]

The platform increased international adoption in 2018 when Hanwha Energy Retail Australia (Nectr)[6] utilized Kraken for billing and customer relationship management (CRM) services as it entered the Australian market.

In October 2019, Good Energy licensed Kraken to manage its 300,000 customers for an initial three-year term.[7] The following year, E.ON and its subsidiary Npower licensed Kraken to manage their combined customer base of 10 million.[8] E.ON later transitioned two million former Npower customers to the Kraken-powered E.ON Next platform.[9][10] In May 2020, Origin Energy acquired a 20% stake in Octopus Energy, obtaining rights to use the Kraken platform in Australia.[11]

2021, Kraken Technologies was contracted by EDF Energy to transition its five million customers to the Kraken platform.[12]

Kraken announced further international partnerships with Plenitude (Eni) on 9 May 2023,[13] serving approximately two million customers, and operating in France, Greece, Portugal, Slovenia and Spain.

In 2024, Kraken was licensed by the North American utility Saint John Energy,[14][15] and partnered with German energy supplier Maingau Energie.[16][17]

In September 2025 it was announced that Octopus was planning a demerger of its Kraken Technologies business unit, which was speculated to have a £10bn valuation.[18][19][20]

In December 2025, Octopus sold a minority stake in Kraken for $1 billion, which valued the company at $8.65 billion.[21]

Organisation

Gavin Patterson was appointed chairman of Kraken Technologies in November 2023,[30] and Amir Orad was appointed the first dedicated CEO in July 2024.[31][32]

Kraken Technologies reported revenues of £136.3 million in FY2024 and total recurring revenue of £89.6 million, a 68% gain from FY2023. As of November 2025, Kraken had £380 million contracted annual recurring revenue and was contracted to manage 75 million customers.[20]