home sweet houston
Energy software company picks Houston as U.S. HQ
Kraken Technologies, the software licensing arm of Octopus Energy Group, has picked Houston for its U.S. headquarters and aims to eventually employ hundreds of people here.
Within the first year, Kraken will create at least 50 new jobs in Houston, the company says. Employees here will work on rolling out the Kraken offering across the U.S.
“The decision to make Houston the [U.S.] home of Kraken recognizes this city’s growing reputation as a tech center,” Richard Hyde, British consul general in Houston, says in an Octopus Energy news release.
Last year, London-based Octopus Energy established its U.S. headquarters in Houston.
The Kraken platform, which launched three years ago, helps customers manage the entire energy supply chain, such as understanding customers’ energy consumption in real time and optimizing alternative energy sources. The platform hopes to reach 100 million customer accounts by 2027.
Octopus Energy explains that Kraken, based on advanced data and machine learning, helps create a “decentralized, decarbonized energy system.”
“Energy is one of the few global sectors still undisrupted by tech – Kraken changes that. It is essentially a big robot that eliminates all the inefficiencies that energy companies have built up over the decades, automating repetitive tasks, allowing humans to do what they are best at, and unlocking smart products,” says Greg Jackson, founder and CEO of Octopus Energy.
Octopus Energy supplies green energy to more than 3 million retail customers around the world. It entered the U.S. market in 2020. The company is valued at nearly $5 billion.