Upside Energy has been renamed to KrakenFlex in a move that will enable an international expansion drive. The change marks a further step in the development of the Manchester based software company following its acquisition by Octopus Energy Group last year.
The KrakenFlex deep-tech platform enables asset owners, energy traders and energy suppliers to control their distributed energy assets in real-time, monitoring both physical and financial performance.
KrakenFlex has achieved substantial growth since the Octopus acquisition - with 500MW of contracted capacity and 250 million readings per day being managed by the market leading DERMS platform.
KrakenFlex CEO Devrim Celal said:
“Right from our very first day as part of Octopus we have been inspired by the drive and energy of our colleagues right across the company. This move allows us to continue our rapid expansion plans. Our cloud platform is gaining ever wider recognition as the leading platform for distributed energy assets and we are excited to be exporting our technology skills to a global audience. Together with the rest of the Octopus team, we have the opportunity to drive global growth in net zero technology and solve the complex challenges ahead.”
Greg Jackson, CEO and founder of Octopus Energy Group, said:
“Now that the KrakenFlex team have been part of the Octopus Energy family for a number of months I’ve seen at first hand the fantastic technology they have developed and the brilliant team of people behind it. The team is now ready to take their technology to a wider international market and help us to make the UK the ‘Silicon Valley of Energy’.”
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