Octopus Energy to Spin Off Kraken in Deal Valuing Platform at $8.65 Billion

Octopus Energy Group is formally spinning out its Kraken technology arm after completing the first standalone investment round for the business, valuing Kraken at $8.65 billion. The $1 billion equity raise was led by D1 Capital Partners, with participation from Fidelity International, Durable Capital Partners, and Ontario Teachers’ Pension Plan Board. The transaction sets Kraken on a path to full independence, with its own governance, leadership, and capital structure, while Octopus Energy will retain a ...