Hanwha Group chooses Octopus Energy technology platform for Aussie launch
UNDER EMBARGO 9.01am GMT / 00.01am AEST - 30th April 2019: Hanwha Energy Retail Australia have chosen the UK's Octopus Energy to provide billing, CRM and other technology services to support its launch into the Australian retail energy market.
Hanwha Energy Retail Australia is a subsidiary of the Hanwha Group, a Fortune Global 500 company headquartered in South Korea, with revenues exceeding $60bn. Hanwha's Q Cells business is the world’s leading producer of solar cells and modules with 2017 total sales exceeding $2.1 Billion USD.
Octopus Energy Ltd is a UK based energy retailer, backed by the £8bn investment business, Octopus Capital, which is the UK's largest investor in solar farms with c. £2.5bn invested to date.
Founded by technology entrepreneurs, Octopus Energy has developed Kraken, a scalable, globally applicable platform to enable energy companies to transform to a digital future in a disrupting energy system. Kraken provides not only CRM, billing and other typical functionality, it is also designed to handle the big data and digital interfacing required by an increasingly dynamic energy system. With volatile prices, and increased demand through decarbonisation, energy companies will need deep technology at the core, and Kraken is designed to deliver this.
Andrew Butler, Managing Director of Hanwha Energy Retail Australia said "The Octopus Kraken platform was the natural choice to deliver our ambition of digital transformation and bring a new level of customer experience to the Australian retail energy market”.
Greg Jackson, Founder and CEO of Octopus Energy Ltd said "We were thrilled to be chosen by Hanwha. Their vision for a renewable future, enabled by dynamic technology and world class customer experience is exactly what we built Kraken to deliver."
Founded in 1952, the Hanwha Group is a Fortune Global 500 company operating across Aerospace Chemicals, Finance, Service & Leisure and Solar Energy. The Hanwha Group revenues exceeded $60 billion USD in 2018 with total shareholder equity of over $37 billion USD.
Hanwha Energy was established in 2007 and has maintained its AA credit rating since conception. In 2017, total assets reached $2.7 Billion USD and total sales exceeded $500 Million USD. Hanwha Energy operates in more than 10 key locations around the world including Korea, the United States of America, Japan and Australia. The Hanwha Q Cells business is the world’s leading producer of solar cells and modules with 2017 total sales exceeding $2.1 Billion USD.
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About Octopus Energy
Octopus Energy launched to the public in April 2016. It supplies 100% renewable electricity and gas to over 640,000 UK homes and businesses, and is the only Which? Recommended energy supplier for a second year in a row. Founded by technology entrepreneurs, Octopus Energy is redefining what is possible for customers and the system by using technology and data to deliver the best products and experience.
Octopus Energy is backed by £7bn fund managers, Octopus Capital, which has invested £2 billion in UK renewable generation, and whose Ventures arm has backed UK success stories like Zoopla, LoveFilm, Graze, Secret Escapes and SwiftKey.
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