Kraken Technologies, a subsidiary of Octopus Energy, is set to name Amir Orad as its new CEO. Orad has an impressive track record, having led NICE Actimize and served as executive chairman of Sisense.
This appointment marks a significant step as Kraken Technologies begins to operate more independently, reflecting the ambitious growth plans of Octopus Energy Group. With a valuation now exceeding £7bn, changes in leadership and investment are driving Kraken’s global expansion.
New CEO Appointment
Kraken Technologies has announced Amir Orad as its new CEO. Orad was previously the head of NICE Actimize.
Kraken Technologies is a subsidiary of Octopus Energy, and Orad’s appointment reflects the company’s growing ambitions.
Background of Amir Orad
Amir Orad has an extensive background in enterprise software. He has worked with global banks and Fortune 500 companies.
Orad has also been the executive chairman of Sisense, a data analytics provider.
His experience underlines the strategic importance of his appointment at Kraken Technologies.
Kraken Technologies’ Growing Independence
Kraken Technologies is beginning to operate more independently from Octopus Energy. This transition is marked by the appointment of a standalone CEO.
This move highlights Octopus Energy Group’s plans for Kraken to scale up and achieve greater independence.
Valuation and Investment
Octopus Energy recently reached a valuation of over £7bn. This was achieved through a secondary share sale.
The change in the shareholder base introduced new investors like Lightrock and Generation Investment Management.
Lightrock’s chairman is Prince Max Von Liechtenstein, while Generation Investment is chaired by former US vice president Al Gore.
Kraken’s Global Reach
Kraken Technologies provides an operating system for the energy, water, and telecoms industries.
In the UK, its platform is used by companies like EON, EDF Energy, Severn Trent, and Cuckoo.
Internationally, it serves clients such as Origin Energy in Australia, Tokyo Gas in Japan, and Plentitude in various countries.
Future Contracts and Goals
Kraken Technologies is preparing to sign several major contracts soon.
It currently serves over 54 million customer accounts globally and aims to reach 100 million by 2027.
Leadership at Kraken
Gavin Patterson, former BT Group CEO, was recently appointed chairman of Kraken Technologies.
Patterson’s appointment strengthens the leadership team and aligns with Kraken’s growth strategy.
Kraken Technologies aims to connect all parts of the energy system, including customer billing and renewable energy management.
Octopus Energy’s Growth
Octopus Energy has grown rapidly since its establishment nine years ago.
Greg Jackson, the founder and CEO, has made strategic acquisitions to expand the company’s scale.
Recent acquisitions include Bulb Energy and Shell’s household energy arm in the UK.
Investors and Shareholders
Greg Jackson holds a personal stake in Octopus Energy Group.
Other significant shareholders include the Canadian pension fund CPPIB.
The presence of large institutional investors highlights the company’s strong position in the market.
Technological Innovations
Kraken Technologies supports smart grids that allow for efficient use of renewable energy.
The company’s platform enhances the management of energy devices like heat pumps and electric vehicle batteries.
The appointment of Amir Orad as CEO underscores Kraken Technologies’ ambitious growth plans. His extensive experience in enterprise software is expected to drive the company’s expansion.
Kraken Technologies, a subsidiary of Octopus Energy, is set to increase its global reach and independence. The company is on track to meet its future goals with its innovative technology and leadership.
With significant financial backing and strategic leadership appointments, Kraken Technologies is poised for continued success in the energy and technology sectors.
