Octopus Energy to spin off Kraken AI unit valued at $8.65 billion
Originally Published 12 days ago — by BBC
Octopus Energy plans to spin off its AI-focused tech division Kraken Technologies as an independent company, following an $8.65 billion valuation and a $1 billion investment from investors including D1 Capital Partners, Fidelity, and Ontario Teachers' Pension Plan. The move aims to facilitate Kraken's potential stock market listing in London or the US, allowing it to operate independently and focus on growth, while Octopus continues to expand as the UK's largest energy supplier despite recent financial losses.
