TAQA and Octopus Energy Group’s Kraken team up to drive decarbonization in the Middle East and Eurasia
Pilot to bring market-leading technology and world-class customer service to businesses owned by the utility giant across the globe
Partners intend to form joint venture to help countries and companies achieve their net zero targets
DUBAI, United Arab Emirates & LONDON–(BUSINESS WIRE)–Octopus Energy Group’s Kraken Technologies is teaming up with the Abu Dhabi National Energy Company PSJC (TAQA), one of the largest listed integrated utilities in Europe, the Middle East, and Africa to launch a pilot project to trial the Kraken platform with TAQA’s power and water customers in the UAE. This program supports TAQA’s focus on operational excellence, optimization, and digitalization across the value chain to improve customer services as well as exemplifying a high-performing and efficient transmission and distribution business.
The companies are also exploring a joint venture (JV) to extend the partnership and Kraken’s footprint to the Middle East, Europe, and worldwide. As part of the proposed JV, the companies will look to establish a local innovation and development hub in Abu Dhabi, which will serve as a Center of Excellence and Innovation in the region. It will also build capabilities in the UAE upon implementation of the program locally.
Kraken Technologies is a part of Octopus Energy Group. Its Kraken platform connects all parts of the energy system, from customer billing to flexible management of renewable generation and energy devices. It is also revolutionizing service delivery for other utilities such as water and broadband.
The Kraken platform empowers energy companies to build and deploy green energy products and to handle customer requests more swiftly and holistically.
TAQA recently announced its new growth targets for 2030. Amongst its refreshed targets, the company articulated plans to expand its Transmission and Distribution business internationally. The JV under discussion will also explore potential for joint investments in projects that could benefit from deployment of the Kraken technology.
The low carbon power and water champion is trialing the deep-tech Kraken platform after assessing its demonstrated benefits of low-cost, maximum efficiency, and ability to enable a smarter, cleaner energy system.
Greg Jackson, Founder of Octopus Energy Group, comments: “At Octopus, we believe in the power of collaboration to turbocharge the energy revolution through innovation and technology. We’re delighted to deepen our partnership with TAQA to help drive customer service excellence and cleaner energy faster in the UAE and around the world.”
Jasim Husain Thabet, TAQA’s Group Chief Executive Officer and Managing Director, said: “We are pleased to partner with Octopus Energy on this pilot of its Kraken technology across our UAE operations. Through this pilot, we see a lot of opportunities to drive further digitalization and operational excellence in our UAE operations and to collaborate with Octopus on a possible pathway for future expansion.
“Importantly, when successful, it will lead to establishing a regional innovation hub for this technology right here in Abu Dhabi, helping to build capabilities within the country and continue to drive excellence in the utilities industry. This advanced platform is an example of how we are investing in technologies that support the energy transition and enhance our operations.”
Kraken has already been used by Octopus Energy to manage millions of customers across the UK, USA, Australia, New Zealand, Japan, and a large portion of mainland Europe and is licensed to energy, water, and broadband utilities across the globe.
It manages over 6 GW of energy assets and is contracted to serve 52 million customer accounts globally, taking it closer to its 2027 target of 100 million accounts.
The platform has enabled Octopus Energy to top customer service tables since its inception, as the only energy company to receive “Which? Recommended status” 6 years in a row. The company and all of its subsidiary brands also benefit from 5* Trustpilot reviews in multiple countries.
About Kraken Technologies
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 52 million energy accounts across the globe through licensees. Its first client was Octopus Energy where Kraken manages 5.9 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 decentralized, decarbonized energy system.
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.
For more information, check out our website.
About Octopus Energy Group
Octopus Energy is a global energy and technology group, driving the affordable, green energy system of the future. Its operations span 17 countries and the entire energy value chain. The group invests in, builds, and flexibly manages renewable energy, operating a £6 billion portfolio of projects – one of Europe’s largest.
Octopus serves 5.9 million customers globally through its retail arm, and has licensed its advanced data and machine learning platform, Kraken, to support 52 million customer accounts worldwide through licensing deals with companies such as EDF, E.ON, and Origin Energy.
Kraken enables Octopus to drive the electrification of heat and transport through smart tariffs and innovative cleantech. Backed by pension funds, investors, and energy giants, Octopus Energy Group businesses deliver cheaper, greener energy and cutting-edge tech to countries and customers worldwide.
For more information, check out our website.
About TAQA
Established in 2005, TAQA is a diversified utilities and energy group headquartered in Abu Dhabi, the capital of the United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX: TAQA). TAQA has significant investments in power and water generation, transmission and distribution assets, as well as upstream and midstream oil and gas operations. The Company’s assets are in the United Arab Emirates as well as Canada, Ghana, India, Iraq, Morocco, Oman, the Netherlands, Saudi Arabia, the United Kingdom and the United States. For more information, please visit: www.taqa.com.
For media inquiries, please contact: (media.hq@taqa.com)
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