Octopus Energy Group to Spin Off Kraken

LONDON & NEW YORK--(BUSINESS WIRE)--Sep 18, 2025--

Octopus Energy Group today announces the spin-off of its world-leading technology company, Kraken, in a move aimed at speeding up the platform’s expansion across the globe.

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Launched as part of the Octopus Energy Group, Kraken’s AI-powered platform is now contracted to serve over 70 million household and business accounts worldwide. It has grown into the world’s most advanced and proven data-driven operating system for utilities, processing 15 billion new data points a day.

The spin-off marks a major strategic milestone, allowing Kraken to fast-track investments into its technology, expand into new energy markets and regions, and drive innovation – all while building on its utility roots.

The move comes as Kraken reaches $500 million in committed annual revenue through licensing deals with energy majors such as EDF, E.ON Next, National Grid US, Origin Energy, Plenitude, and Tokyo Gas – quadrupling its contracted revenue in just three years.

To support this next phase, Kraken has appointed Tim Wan as its new CFO. Tim brings experience from US software leader Asana, where he spearheaded its successful listing and oversaw its journey to financial success and industry leadership whilst maintaining absolute focus on delivering an outstanding product for its customers.

Powered by Kraken, Octopus Energy Group rapidly reshaped the UK energy market with fair pricing, innovation and a relentless focus on customer service. Earlier this year, it became the UK’s largest energy supplier, now serving over 7.7 million UK households.

A globally leading energy and tech group, Octopus now operates in 27 countries – with 2.8 million more customers across its rapidly growing retail businesses in France, Germany, Italy, Spain and Japan; a £7 billion renewables portfolio; and thriving EV leasing, heat pump, and solar businesses.

Greg Jackson, Founder of the Octopus Energy Group, said: “We set out to create Kraken as a global platform to transform utilities and deliver the innovation, service and value that customers deserve. I am so proud that the business is smashing it – and is now such a huge and successful company in its own right.

“Under Amir’s leadership and with a remarkably talented team, Kraken is soaring to new heights. I set the embarrassingly low goal of 100,000,000 accounts by 2027. It looks like it’ll beat that and can now aim to serve a billion people over the next decade.”

Amir Orad, CEO of Kraken, said: “Octopus has been a phenomenal founding partner and first client. Kraken is now a globally successful business in its own right, operating independently for some time – completing our journey to full independence is a strategic and inevitable next step.

“It gives us more freedom to invest, expand, and serve our utility clients equally. We’ll keep pushing innovation in the cloud, advancing our utility-grade AI and harnessing vast amounts of energy and grid data, while ensuring structural clarity for customers, investors, and partners. We are aiming to accelerate the energy transition and positively impact people around the world. This is an exciting next chapter for Kraken.”

Kraken is transforming utilities worldwide by reducing cost to serve, improving customer service and happiness, and increasing flexibility and innovation. Recent highlights include a breakthrough solution for serving commercial and industrial customers, signing its first fully integrated US utility client with National Grid, and scaling up Kraken’s utility-grade AI.

The company is also a global leader in residential flexibility, managing over 2GW of power from EVs, home batteries and heat pumps – balancing the grid and bringing down bills by charging cars and heating homes when energy is abundant, cheap and green.

Notes to editors

About Octopus Energy Group

Octopus Energy is a global clean energy and technology business, driving the affordable, green energy system of the future. Under its own retail brand, Octopus delivers world-class customer service and cutting-edge energy products to almost 10 million households globally.

The company is driving the electrification of heat and transport through smart tariffs and innovative clean tech, with operations spanning 27 countries and the entire energy value chain. It operates a £7 billion renewables portfolio as well as thriving EV leasing, heat pump, and solar businesses.

Backed by pension funds, investors and energy giants, Octopus Energy Group businesses deliver cheaper, greener energy and cutting-edge tech to countries and customers worldwide.

For more information, check out our website.

About Kraken

Kraken is the world’s only proven, end-to-end platform for utilities’ digitalization and transformation, trusted by global energy giants like EDF Energy, E.ON Next, Octopus Energy, Origin and Tokyo Gas.

Headquartered in London and New York, Kraken is contracted to manage over 70 million customer accounts, as well as the world’s largest virtual power plant of residential assets, and Europe's largest grid-scale battery.

The platform’s advanced data, AI and machine learning capabilities automate much of the energy supply chain to allow outstanding service and efficiency. These advances have redefined the utilities sector, driving a 30-fold increase in new product innovations for partners, top consumer rankings and hundreds of millions of dollars in operational savings.

Kraken’s cloud-based architecture is uniquely adaptable and scalable, proven by an unparalleled track record in seamless, extremely fast on-time migrations and enabling its successful expansion into water and other verticals.

https://kraken.tech/

Kraken hits $500m revenue milestone and spins off from Octopus Energy Group

A federal appeals panel on Thursday reversed a lower court decision that released former Columbia University graduate student Mahmoud Khalil from an immigration jail, bringing the government one step closer to detaining and ultimately deporting the Palestinian activist.

The three-judge panel of the 3rd U.S. Circuit Court of Appeals didn’t decide the key issue in Khalil’s case: whether the Trump administration’s effort to throw Khalil out of the U.S. over his campus activism and criticism of Israel is unconstitutional.

But in its 2-1 decision, the panel ruled a federal judge in New Jersey didn’t have jurisdiction to decide the matter at this time. Federal law requires the case to fully move through the immigration courts first, before Khalil can challenge the decision, they wrote.

“That scheme ensures that petitioners get just one bite at the apple — not zero or two,” the panel wrote. “But it also means that some petitioners, like Khalil, will have to wait to seek relief for allegedly unlawful government conduct.”

The law bars Khalil “from attacking his detention and removal in a habeas petition,” the panel added.

It was not clear whether the government would seek to detain Khalil, a legal permanent resident, again while his legal challenges continue.

Thursday’s decision marked a major win for the Trump administration’s sweeping campaign to detain and deport noncitizens who joined protests against Israel.

In a statement distributed by the American Civil Liberties Union, Khalil said the appeals ruling was “deeply disappointing, but it does not break our resolve.”

He added: “The door may have been opened for potential re-detainment down the line, but it has not closed our commitment to Palestine and to justice and accountability. I will continue to fight, through every legal avenue and with every ounce of determination, until my rights, and the rights of others like me, are fully protected.”

Baher Azmy, one of Khalil's lawyers, said the ruling was “contrary to rulings of other federal courts.” He noted the panel’s finding concerned a “hypertechnical jurisdictional matter,” rather than the legality of the Trump administration’s policy.

“Our legal options are by no means concluded, and we will fight with every available avenue,” he added, saying Khalil would remain free pending the full resolution of all appeals, which could take months or longer.

The ACLU said the Trump administration cannot lawfully re-detain Khalil until the order takes formal effect, which won't happen while he can still immediately appeal.

Khalil's lawyers can request the active judges on the 3rd Circuit hear an appeal, or they can go to the U.S. Supreme Court.

An outspoken leader of the pro-Palestinian movement at Columbia, Khalil was arrested on March 8, 2025. He then spent three months detained in a Louisiana immigration jail, missing the birth of his firstborn.

Federal officials have accused Khalil of leading activities “aligned to Hamas,” though they have not presented evidence to support the claim and have not accused him of criminal conduct. They have also accused Khalil, 30, of failing to disclose information on his green card application.

The government has justified the arrest under a seldom-used statute that allows for the expulsion of noncitizens whose beliefs are deemed to pose a threat to U.S. foreign policy interests.

In June, a federal judge in New Jersey ruled that justification would likely be declared unconstitutional and ordered Khalil released.

President Donald Trump's administration appealed that ruling, arguing the deportation decision should fall to an immigration judge, rather than a federal court.

Khalil has dismissed the allegations as “baseless and ridiculous,” framing his arrest and detention as a “direct consequence of exercising my right to free speech as I advocated for a free Palestine and an end to the genocide in Gaza.”

Judge Arianna Freeman dissented Thursday, writing that her colleagues were holding Khalil to the wrong legal standard. Khalil, she wrote, is raising “now-or-never claims” that can be handled at the district court level. He does not have a final order of removal, which would permit a challenge in an appellate court, she wrote.

Both judges who ruled against Khalil, Thomas Hardiman and Stephanos Bibas, were Republican appointees. President George W. Bush appointed Hardiman to the 3rd Circuit, while Trump appointed Bibas. President Joe Biden, a Democrat, appointed Freeman.

The majority opinion noted Freeman worried the ruling would leave Khalil with no remedy for unconstitutional immigration detention, even if he later can appeal.

“But our legal system routinely forces petitioners — even those with meritorious claims — to wait to raise their arguments, the judges wrote. “To be sure, the immigration judge’s order of removal is not yet final; the Board has not affirmed her ruling and has held the parties’ briefing deadlines in abeyance pending this opinion. But if the Board ultimately affirms, Khalil can get meaningful review.”

The decision comes as an appeals board in the immigration court system weighs a previous order that found Khalil could be deported. His attorneys have argued that the federal order should take precedence.

That judge has suggested Khalil could be deported to Algeria, where he maintains citizenship through a distant relative, or Syria, where he was born in a refugee camp to a Palestinian family.

His attorneys have said he faces mortal danger if forced to return to either country.

Associated Press Writer Larry Neumeister contributed to this story.

FILE - Palestinian activist Mahmoud Khalil holds a news conference outside Federal Court on Tuesday, Oct. 21, 2025 in Philadelphia (AP Photo/Matt Rourke, File)