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Octopus Energy Spins Out Kraken Technologies With Public Market Ambitions

by THEFUTURE.TEAM

January 6, 2026

Strategic Spin-Off Sets Stage for Industry Disruption

British renewable energy innovator Octopus Energy is poised to divest its AI technology unit, Kraken Technologies, paving the way for a potential public listing. This move underscores the company’s commitment to not only transforming energy markets, but also to unlocking substantial value in its digital transformation initiatives.

Robust Capital Infusion and Strategic Partnerships

According to a recent statement from Origin Energy, a major stakeholder in Octopus Energy, the startup successfully raised US$1 billion during its inaugural standalone funding round, resulting in a valuation of US$8.65 billion. The investment round, which included a significant contribution from Origin Energy (US$140 million) and involvement from high-profile investors such as D1 Capital Partners, has accelerated Kraken Technologies’ journey toward achieving a customer account target of 100 million.

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Capitalizing on Energy Software Innovation

Kraken Technologies has evolved into what CEO Amir Orad describes as “the modern operating system for utilities,” having supplied its specialized energy software to major companies, including EDF and E.ON. With contracted annual recurring revenues doubling over the past 18 months, Kraken’s performance highlights the significant market appetite for advanced digital solutions in the energy sector.

Looking Ahead: Growth and Transformation

Origin Energy’s CEO Frank Calabria emphasized that the recent transactions not only fortify Octopus Energy and Kraken’s financial foundation but strategically position them for their next phase of growth. Post spin-out, Octopus Energy will maintain a 13.7% stake in Kraken, while Origin Energy preserves its 22.7% interest. As Kraken further refines its commitment to become a pure-play software company, the pathway to attracting long-term, software-focused investors appears increasingly promising.

Investor Confidence and Industry Momentum

In earlier remarks on CNBC’s “Squawk Box Europe,” Kraken CEO Amir Orad articulated his optimism over the firm’s robust investor base, particularly among those focused on energy and utilities. The anticipated separation, expected by mid-2026, is seen as a critical lever that could propel the company into a broader digital transformation narrative within the energy industry.

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Eurobank Wins Two Euromoney Awards Following Cyprus Merger

Eurobank has been named Cyprus’ Best Bank for 2026 by Euromoney, while also receiving the award for Best Bank for Large Corporates at the publication’s latest Awards for Excellence.

Merger Marks A Milestone

The awards recognise the bank’s performance during 2025, a year marked by the completion of the legal merger between Hellenic Bank and Eurobank Cyprus. The transaction created Eurobank Limited, which the group says is now Cyprus’ largest banking and insurance organisation, with assets exceeding €28 billion.

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Euromoney’s Awards for Excellence evaluate banks’ performance over the previous calendar year, with this edition covering January 1 to December 31, 2025.

Lending, Customers And Digital Growth

Eurobank said its business lending portfolio expanded by around 17 per cent during 2025, while its customer base grew to more than 710,000 retail clients and 11,500 business customers.

The bank also continued its digital expansion, saying more than 96 per cent of transactions are now completed through digital channels, and most financing applications are submitted via its mobile app.

Expanding International Presence

Eurobank also highlighted the opening of its first representative office in India, describing the move as a step toward strengthening business links between Cyprus and India while supporting Cyprus’ role as a gateway to the European Union for Indian businesses and investors.

According to the bank, Euromoney recognised not only the successful completion of the merger but also its lending growth, digital transformation and contribution to Cyprus’ position as an international business and investment hub.

CEO On The Awards

“The Euromoney awards confirm Eurobank’s strong momentum and the successful implementation of our group’s strategy in Cyprus,” Chief Executive Michalis Louis said.

He said the merger strengthened the bank’s ability to support households, businesses and the wider economy, while highlighting continued investment in digital services and the opening of the representative office in India as key milestones during the year.