30 December 2025 Punjab Khabarnama Bureau : Kraken Technologies, the advanced energy software platform originally developed within Octopus Energy, has reached a valuation of $8.65 billion, according to a statement from Australia’s Origin Energy. The milestone follows Kraken’s first independent equity fundraising round and marks a major moment in the evolution of energy-focused technology businesses.
The valuation underscores the growing importance of digital platforms in the global energy transition, as utilities increasingly rely on software to manage complex systems shaped by renewable energy, electrification, and decentralised power generation.
A Major Leap for an Energy Technology Spin-Off
Kraken began as an in-house technology solution built by Octopus Energy to modernise customer billing, grid management, and energy forecasting. Over time, the platform proved so effective that it became a product in its own right, licensed to utilities across multiple countries.
The newly announced $8.65 billion valuation reflects investor confidence in Kraken’s ability to scale globally as a standalone company. The figure emerged after a significant equity raise involving both existing shareholders and new institutional investors, positioning Kraken for accelerated growth ahead of its planned full separation from Octopus Energy.
This fundraising round is Kraken’s first as an independent entity and signals its transition from an internal tool to a global energy software leader.
Origin Energy’s Role and Investment
Origin Energy, one of Australia’s largest energy companies, has been a long-term partner and investor in Octopus Energy and Kraken. Following the equity raise, Origin confirmed it would retain a 22.7% direct stake in Kraken, while also maintaining an equivalent economic interest in Octopus Energy.
As part of the transaction, Origin invested additional capital into Kraken and agreed to waive its exclusivity rights to the platform in Australia. This move allows other energy retailers in the Australian market to adopt Kraken’s technology, expanding its customer base and accelerating its regional growth.
Origin’s leadership described the decision as a strategic balance between maintaining exposure to Kraken’s long-term value and enabling the platform to reach its full commercial potential.
Why Kraken’s Valuation Is Significant
Kraken’s valuation places it among the most valuable energy technology companies globally. Unlike traditional energy firms, Kraken’s core offering is software — a model that typically commands higher valuations due to scalability, recurring revenue, and global applicability.
The platform uses advanced data analytics and automation to help utilities manage:
- Customer accounts and billing
- Real-time energy demand and supply balancing
- Integration of renewable energy sources
- Electric vehicle charging and home energy systems
- Grid flexibility and system resilience
As power grids become more complex, utilities are under pressure to adopt digital tools that can respond dynamically to changing conditions. Kraken’s ability to handle these challenges has made it a key player in the sector.
Part of a Broader Energy Transition
Kraken’s rise reflects a wider transformation underway in the global energy industry. The shift toward clean energy, decentralised generation, and smart infrastructure has created strong demand for platforms that can coordinate millions of data points in real time.
Traditional energy systems were designed for one-way power flows and predictable demand. Today’s systems must accommodate rooftop solar, battery storage, electric vehicles, and flexible pricing models — all of which require sophisticated software.
Kraken’s success highlights how technology companies are becoming just as critical to the energy transition as power generators and network operators.
Investor Confidence in Climate and Energy Tech
The strong valuation also points to sustained investor appetite for climate and energy technology. Software platforms that enable decarbonisation and efficiency are attracting capital from global investment firms seeking long-term growth opportunities aligned with environmental goals.
Kraken’s business model, which focuses on licensing its platform to utilities rather than owning physical infrastructure, allows it to expand internationally with relatively low capital intensity. This makes it especially attractive to investors looking for scalable climate-tech solutions.
Future Plans and Possible Public Listing
With fresh capital and a clarified ownership structure, Kraken is expected to focus on international expansion, deeper partnerships with utilities, and continued development of its technology.
The company is working toward a complete operational separation from Octopus Energy, targeted for completion by mid-2026. Industry observers believe this could pave the way for a potential initial public offering within the next one to two years, depending on market conditions.
If such a listing occurs, Kraken could become one of the most prominent publicly traded energy software firms, further blurring the lines between the technology and utility sectors.
Implications for Origin Energy
For Origin Energy, Kraken’s valuation represents a significant uplift in the value of its strategic investments. By retaining a sizeable stake while enabling broader adoption of the platform, Origin positions itself to benefit financially from Kraken’s growth without limiting its expansion.
The move also reinforces Origin’s strategy of combining traditional energy operations with investments in innovative technology that supports the future energy system.
A Signal of Where Energy Is Heading
Kraken’s $8.65 billion valuation sends a clear signal about the direction of the energy industry. As power systems become smarter, cleaner, and more complex, software platforms are emerging as foundational infrastructure.
Rather than being seen as a support function, digital technology is now central to how energy is generated, managed, and consumed. Kraken’s rapid rise from an internal tool to a multi-billion-dollar company highlights how critical this shift has become — and why investors, utilities, and governments are paying close attention.
Summary
Kraken Technologies has reached a valuation of $8.65 billion following its first independent equity raise, with Origin Energy retaining a major stake as the energy software platform prepares for global expansion.