Kraken boosts networks offering with Depsys acquisition  

Octopus Energy Group’s Kraken has announced the acquisition of a Swiss technology firm as part of a bid to boost its offering to energy network operators.

The deal will see Kraken take on Lausanne-based Depsys and its ‘GridEye’ platform which provides analytics, data and real time monitoring, including fault management, power quality and power flow modelling to distribution network operators.

Through its flexibility division Kraken is currently contracted to control more than 4.3 GW of power across 13,000 assets. So far the company is managing 1.21 GW of this capacity, with the remaining assets to come online within the next year.

Kraken chief executive Devrim Celal said: “By using and integrating Depsys’ technology into Kraken’s flexibility platform, we are enabling far more granular monitoring of all manner of green energy resources, like EVs, renewable generators and more.

“With the help of this new technology, grid operators will be able to save huge amounts of cash on costly physical upgrades by looking at a full-service, digital solution. We can’t wait to get started in Switzerland.”

Michael De Vivo, chief executive of Depsys, added: “We are joining forces with a like-minded team who share our ambitions to play a major role in using technology to digitalise the transition to a net zero world.”