Unicorn Octopus Energy Group has announced the spin-off of its technology arm, Kraken, to accelerate the platform’s global expansion.

Kraken’s AI-driven system already supports over 70 million energy accounts worldwide and processes 15 billion new data points each day, making it one of the most advanced operating platforms in the utility sector.

The business now generates $500m in revenue through partnerships with major energy players including EDF, E.ON Next, and Tokyo Gas.

With Tim Wan, former Asana CFO, joining as its new CFO to guide its next phase of growth, the subsidiary of the London firm will focus on advancing utility-grade AI, expanding into new markets and driving the energy transition at scale.