Bloomberg Businessweek Octopus Energy Plans to Spin Off Technology Arm Kraken
Sep 22, 2025
Amir Orad, CEO of Kraken Technologies, a software platform instrumental in Octopus Energy's remarkable growth, dives into the nuances of their upcoming spinoff. He shares insights on how Kraken aids utilities in managing the transition to cleaner energy, highlighting its role in balancing power flows amidst rising technologies like electric vehicles and solar panels. Orad discusses the importance of a diverse energy mix and the strategic reasons behind the spinoff, aiming to expand Kraken's reach and client base while addressing global energy challenges.
AI Snips
Chapters
Transcript
Episode notes
Grid Modernization Is Inevitable
- Utilities must modernize billing, communications and operations because household energy tech is changing rapidly.
- Kraken provides software that helps utilities update their infrastructure to handle smart homes and EVs.
Charging Time Shift Example
- Amir gives a concrete example of shifting EV charging and cooling to reduce peak spikes on the grid.
- Kraken's platform manages timing and pricing to smooth demand while ensuring customer needs are met.
Software Offsets Grid Overbuild
- Rising electrification and EV adoption created new load growth after decades of flat demand.
- Software is needed to optimize usage and avoid wholesale infrastructure overbuilds.