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Octopus Energy sold a minority stake in its AI unit Kraken, valuing it at $8.65 billion, to fund its spin-off and global expansion.
Octopus Energy has sold a minority stake in its AI-powered Kraken Technologies unit, valuing it at $8.65 billion, as part of a plan to spin it off into an independent company.
The deal raised $1 billion in equity from investors including D1 Capital Partners, Fidelity International, and Ontario Teachers’ Pension Plan, with an additional $320 million injected into Octopus Energy.
After the transaction, Octopus will retain a 13.7% stake in Kraken, which serves over 70 million energy accounts globally and powers major utilities.
The separation aims to accelerate Kraken’s global expansion, with a potential stock market listing in London or New York by September 2026.
Octopus Energy vendió una participación minoritaria en su unidad de IA Kraken, valorándola en $8.65 mil millones, para financiar su escisión y expansión global.