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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.
As part of a plan to spin off its AI-powered Kraken Technologies division into a separate business, Octopus Energy sold a minority stake in the company, valued at $8.65 billion.
Investors such as D1 Capital Partners, Fidelity International, and Ontario Teachers' Pension Plan contributed $1 billion in equity to the deal, and Octopus Energy received an additional $320 million.
Following the deal, Octopus will keep a 13.7% share in Kraken, which powers major utilities and serves more than 70 million energy accounts worldwide.
With a possible stock market listing in London or New York by September 2026, the split is intended to hasten Kraken's international growth.
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.