Kraken spin off as Octopus Energy gets to grips with subsidiary’s explosive growth

Octopus Energy, a UK-based energy provider, has announced it will spin off its AI-powered subsidiary, Kraken, to accelerate its subsidiary's expansion. The announcement comes as Kraken reaches a contracted annual revenue of $500 million (£369m €425m) per year, driven by licensing deals with energy majors including EDF, E.ON Next, National Grid US, Origin Energy, Plenitude, and Tokyo Gas.