Skadden is advising Kraken Technologies Limited in connection with Octopus Energy Group’s announcement of the first stand-alone investment round into Kraken. This round sees new and existing investors acquiring approximately $1 billion of Kraken equity to fund both Octopus and Kraken. It paves the way for Kraken’s formal independence and demerger from Octopus. Following the demerger, Kraken will operate with a separate capitalization table, independent governance and leadership.
Kraken is an AI-powered operating system for utilities. Octopus Energy Group has announced the first stand-alone investment round into Kraken Technologies Limited, valuing Kraken at approximately $8.65 billion. The round will see new and existing investors acquire around $1 billion of Kraken equity to fund both Octopus and Kraken. The financing paves the way for Kraken’s formal independence and a demerger from Octopus.
Following the demerger, Kraken will operate with a separate capitalization table, independent governance, and leadership. Kraken is described as an AI-powered operating system for utilities, highlighting its strategic role in the energy tech ecosystem. Skadden is advising Kraken Technologies Limited in connection with the deal, underscoring the advisory support behind Kraken’s move toward independence.
Leave a Reply