Kraken acquires asset management expert Sennen to improve renewable management capabilities

• Absorbing Sennen’s technology into its stack will improve Kraken’s ability to manage renewable energy assets
• Will unlock offshore wind farm operational management capabilities
• Acquisition increases Kraken’s contracted assets to 36GW

London, 20th December 2023 - Kraken, the fastest growing software provider for the energy industry globally, today announces the acquisition of Sennen, a provider of advanced software for the delivery and operation of large-scale renewable energy generation.

Kraken Technologies is part of Octopus Energy Group. Its tech platform, Kraken, connects up all parts of the energy system, from customer billing to flexible management of renewable generation and energy devices. It is also revolutionising service for other utilities such as water and broadband.

Kraken allows for extended analytics, real time monitoring, optimisation and control of energy devices, such as solar and wind generation, batteries, heat pumps and electric cars, and enables companies to drive efficiency and meet important net zero targets.

The Sennen software uses the latest cloud technology to streamline oversight, maintenance and daily operation of renewable energy projects. Joining forces with Sennen will enhance Kraken’s asset management offering, allowing it to develop more innovative products and services.

The acquisition of Sennen will increase Kraken’s contracted energy generation and storage assets sixfold, growing them from 6.5GW to 36GW. It also marks the first time the platform will be actively managing the operation of offshore wind farms.

Players in asset management have traditionally relied on legacy systems, lacking the bleeding edge tech that modern renewable energy operations demand. Sennen’s in-depth maintenance and analytics platform supports 1000s of sites including offshore wind farms, solar farms and grid scale batteries.

Sennen’s talented team has extensive experience and a strong reputation in its field. Its 25 employees will move over to the Kraken family and continue to work from their office in Bristol.

Kraken is currently contracted to manage over 6.5 GW across 130,000 green energy assets in 12 countries.

Devrim Celal, CEO of Kraken, comments: “This acquisition is a game-changer for us as we continue to disrupt the renewable energy landscape. Sennen's expertise and innovative solutions perfectly complement our mission to provide efficiency and scalability to asset managers. We are excited to join forces with Sennen’s talented team to turbocharge the move to a cleaner, cheaper energy world.”

Gaby Amiel, CEO of Sennen Tech Ltd, comments: “Our energy system needs to be

completely rethought and rewired in order to operate free from fossil fuels. With renewable

energy capacity set to triple globally, Sennen’s focus on meeting the challenges faced by

renewable project owners will be of increasing importance. Kraken is at the absolute

vanguard of the energy transformation. Together, we have the technology to unlock

tremendous value for our customers.”

Sennen was advised by Roxburgh Milkins who are based in Bristol.

Sennen was founded by Gaby Amiel and Paul Grimshaw in 2017 with the aim of creating high performance software specifically for managing renewable energy assets. It is a 25-strong team, mostly based in Bristol, UK. Clients include leading renewable energy companies RWE and EDF Renewables and investment manager Foresight Group.

-ENDS-

Notes to editors:

Press Contacts

Octopus Energy Group press office

press@octoenergy.com

+44 (0)20 4530 8369

About Kraken

Kraken Technologies offers a best-in-class end-to-end platform for energy supply, and is operating in the UK, Japan, US, New Zealand, Australia and most of mainland Europe. Kraken’s proprietary platform is contracted to serve 54 million customer accounts across the globe through licensees. Its first client was Octopus Energy where Kraken manages 5.8 million retail customers globally and over 60,000 business customers (the largest of which is Arsenal FC).

Based on advanced data and machine learning capabilities, Kraken automates much of the energy supply chain to allow outstanding service and efficiency as the world transitions to a decentralised, decarbonised energy system. Kraken’s flexibility arm is currently contracted to manage over 6.5 GW across 130,000 green energy assets in 12 countries.

Kraken Technologies is part of Octopus Energy Group and was developed to enable select third parties to take advantage of the technologies developed by Octopus Energy. It has already been licensed by major global players including Origin Energy, E.ON and EDF. https://kraken.tech/