Octopus Energy spins off Kraken Technologies to unlock global growth

octopus energy, kraken, [https://invezz.com/wp-content/uploads/2025/09/20250918_100724_GO8YF.png] Octopus Energy, Britain’s largest electricity supplier, said on Thursday it would spin off its technology arm Kraken Technologies into a standalone company, marking a significant step in the group’s strategy to focus on core operations while allowing its fast-growing tech division to pursue independent growth. The company also announced the appointment of Tim Wan as chief financial officer of the newly separated Kraken Technologies. Wan previously served as finance chief at US-listed software platform Asana from 2017 until 2024, overseeing its stock market listing. Kraken has become a major player in energy technology, providing software platforms to global energy companies such as EDF, National Grid US, and Tokyo Gas. The company has now hit $500 million in committed annual revenue through licensing deals, cementing its position as one of the most valuable technology providers in the utility space. The separation will give Kraken greater freedom to invest and expand independently while addressing potential conflicts of interest that could arise from its ownership by Octopus, a competitor to many of its clients. “We set out to create…