Octopus Energy to spin off $8.65bn tech arm Kraken

Octopus Energy to spin off $8.65bn tech arm Kraken, with a potential stock market flotation on the horizon. Kraken Technologies, an AI-based division automating energy customer service and billing, has attracted a $1bn investment from investors including D1 Capital Partners. The spinoff will enable Kraken's independence from Octopus Energy, paving the way for future growth and a share listing decision between London and the US. With a global investor base, Kraken aims to expand its reach and enhance its operations following the strategic spinoff.