Octopus Energy revolves its Public Services and Ia Billing Platform

British renewable energy supplier Octopus energy This week he said he is turning KrakenIts technological platform for public services, promoted in part for $ 500 million in annual revenues committed from other public services and energy suppliers.

An IPO of eventual Kraken could be valued at $ 15 billion and could occur within a year, according to the Wall Street Journal.

Kraken was actually the company’s initial product, according to the CEO of Octopus, Greg Jackson. “We create Octopus as the ‘demonstration client’,” he told the Journal Earl this year. That demonstration client has since grown to provide energy to more than 7.7 million homes in the United Kingdom and another 2.8 million in other places.

The spin -off would help Kraken minimize conflicts of interest, since it signs public services and energy suppliers that are not Octopus, said the company. Octopus originally put the spin -off in motion last year.

Octopus was founded in 2015, and in a decade it became the United Kingdom largest energy supplierovercoming the British gas, which was founded more than 200 years ago.

Part of that growth has arisen from the creative marketing and acquisition strategies of the client.

One, called zero invoices, allowed owners to eliminate their energy bills for a decade if they bought properties that were completely electrified. Another, a rate that calls agile, encourages customers to change their use of electricity at the time when there is a surplus in the network. In some cases, consumers can execute a lot of laundry free.

As Octopus compiled data from these projects, he used models integrated in Kraken to examine them to determine how growing quantities of renewable energy can work on the network.

For public services and energy suppliers, Kraken allows them to resort to energy sources when necessary, including renewable energies, lots and so -called distributed energy resources, which include EV loaders, intelligent thermostats and home batteries. He has also created a customer management system that covers everything from billing, meters management and customer relationships.