Kraken Energy: Greg Jackson’s New Venture from Octopus

Octopus Energy​ Spins Off Technology Arm Kraken as Standalone⁢ Business

Here’s a summary⁣ of the article:

Key takeaways:

* Kraken Spin-Off: Octopus Energy is spinning off its technology arm, Kraken, into a standalone business⁣ to‌ accelerate its ⁤global expansion and investment​ in technology.
*​ Kraken’s Success: Kraken boasts​ $500m in annual revenue from licensing deals with major energy companies (EDF, E.ON Next, National Grid US, Origin‌ Energy, Plenitude, Tokyo Gas) and currently serves over ⁣70 million household and business accounts worldwide.
* New CFO: Tim Wan has been appointed as Kraken’s new Chief ‌Financial Officer.
* Octopus Energy’s Growth: Octopus Energy is now the UK’s largest energy supplier, serving over 7.7 million UK households.
* Enterprising Goals: Greg Jackson (founder of octopus Energy) initially aimed for 100 million accounts by 2027, but now believes Kraken can surpass⁣ that ‍and ⁤aim‍ to serve a billion people in the next decade.
* Increased Independence: ⁢Kraken has been operating independently for some time, ⁣and this move​ formalizes that‌ independence, allowing⁢ for greater freedom to invest and expand.
* Focus on Innovation: Kraken will continue to focus on cloud innovation,AI,and utilizing energy and grid data to accelerate the energy transition.

In essence, this move positions ⁢kraken to operate more independently and aggressively pursue growth opportunities in the global energy technology ‌market.