Reported about 4 hours ago
Octopus Energy announced it will spin off its technology arm, Kraken Technologies, appointing Tim Wan as the new CFO. This move, aimed at enhancing Kraken's independence and growth potential, comes as Octopus Energy focuses on its core operations. Kraken has already secured $500 million in annual revenue through licensing deals with major energy companies. The spin-off is expected to increase the value of the technology group and benefit Origin Energy, a partial owner.
Source: YAHOO