Octopus Energy turns from Kraken Utility Billing and AI platform

British renewable energy provider Octopus Said this week that he is turning away TriggerThe technological platform for utility businesses, partly $ 500 million in dedicated annual revenue from other utilities and energy providers.

A possible ipo kraken could be estimated at $ 15 billion and could occur within one year, according to In Wall Street magazine.

Kraken was actually the company’s original product, according to Octopus Greg Jackson’s CEO. “We created Octopus as the ‘Demonstration Customer’, he told magazine Earlier this year. This demonstration customer has since increased to provide power to more than 7.7 million households in the United Kingdom and another 2.8 million elsewhere.

Spinoff would help Kraken minimize conflicts of interest, as it signs the utilities and power providers that are not Octopus, the company said. Octopus initially put the spinoff on move last year.

Octopus was founded in 2015 and within a decade the UK became larger energy providerIt exceeded British gas, which was founded more than 200 years ago.

Part of this development has come from creative marketing strategies and customer acquisition.

One, called zero accounts, allowed homeowners to eliminate their energy bills for a decade if they bought real estate that was completely electrified. Another, an invoice that calls Agile, encourages customers to transfer their electricity to the grid surplus times. In some cases, consumers can perform clothes loads free.

As Octopus has collected data from these projects, it used AI models integrated into Kraken to sift through it to determine how the increasing amounts of renewable energy can operate on the network.

For utilities and energy providers, Kraken allows them to call energy sources when needed, including renewable energy sources, solar and so -called distributed energy resources, which include EV chargers, smart thermostats and home batteries. It has also created a customer management system that covers everything from billing, meter management and customers’ relationships.