KrakenFlex is founded
Founded in 2014 (Originally as 'Upside Energy') for the Nesta Dynamic Demand Challenge, we quickly gained attention for our ability to connect and control a diverse range of energy assets at scale. Funding followed from bodies such as Innovate UK and DECC Energy Entrepreneurs, with the aim of building out the Upside platform to facilitate the rapidly growing UK flexibility market.
Leading the energy transition
Customer success followed with our client base now including tier one asset owners, energy traders and electricity retailers. As a result, the Upside Platform as it was then known was managing a large-scale portfolio of flexible distributed energy assets.
A new home
Following this significant growth, Upside was acquired by Octopus Energy in 2020, a fast growing UK energy utility and technology provider currently valued at over $2 billion. In reference to the acquisition Octopus Energy said:
“With Upside Energy's industry-leading data science and AI expertise, we are now able to offer customers unique energy solutions which can significantly reduce energy bills. Our new technology optimises the energy use of devices automatically.Upside has established an impressive customer base with both utilities and asset owners across the energy industry, which it plans to build on whilst rapidly expanding its capabilities internationally.”
We're now called KrakenFlex and our contracted portfolio of 500MW is forecast to grow to 1GW by 2022.