Octopus Energy to sell stake in software spin-off Kraken at $8.65bn valuation
CEO of Britain’s biggest household energy supplier says technology arm could float in the medium term
Octopus Energy has agreed to sell a stake in its Kraken software arm, in a move that would value the division at $8.65bn (£6.4bn) and could open the way for a stock market flotation.
The technology, which it already licenses to some rival suppliers, has been vital to the energy company’s success, making it easier to manage customer billing, smart meters, electric vehicle charging and home batteries to make using renewable power cheaper.
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