London, 9th March, 2020. Technology unicorn Octopus Energy Group, the UK’s fastest growing energy supplier, today announces the purchase of
Configurable, an advanced energy software created by Wellington-based Marvel Labs, in a move to super-charge Kraken’s
market supply capabilities.
Kraken is Octopus Energy’s proprietary technology, a globally scalable platform designed to drive the smart grid and
greatly improve the efficiency and customer service of energy suppliers. The end-to-end platform is based on advanced
data and machine learning capabilities and automates much of the energy supply chain, empowering customers to access
power when it is cheaper and greener. Kraken is now contracted to serve 17 million energy accounts worldwide, targeting
100 million accounts by 2027.
The tech platform has enabled Octopus Energy to become a global leader in smart tariffs, allowing the company to develop
innovative products such as the world’s first half-hourly time-of-use tariff Agile Octopus, a bespoke tariff for
vertical indoor farms, and its most recent invention – the ‘Fan Club’ – a tariff which gets cheaper as local wind blows
stronger.
The integration of Configurable adds another layer of flexibility and speed to Kraken’s tech stack offering, enabling
Octopus Energy and Kraken’s licensees to create even more complex tailor-made dynamic tariffs which support green
energy, drive the smart grid and lower energy bills for business and domestic customers.James Eddison, CTO and co-founder of Octopus Energy Group, said:
“The times of generic fixed and standard tariffs are over, we’re entering a new era of smart tariffs. The way we
generate and consume energy is changing dramatically, leading us into a greener energy future. And energy suppliers need
to evolve as well to make sure that their products meet their customers’ needs and drive this change for a better world.
“We are always looking for new ways to innovate and create solutions which can help accelerate the transition to a truly
flexible, green energy system, and Configurable is just perfect for that. It will allow us to build even more bespoke
energy products across the globe, driving the renewable energy revolution faster than ever.”Ari Sargent, CEO of Marvel Labs, said:
“The future of retail energy across the globe looks bright as Configurable becomes part of Octopus Energy Group. We are
excited to be joining forces with an organisation that has a global reach and who shares our ambitions to play a major
role in accelerating the decarbonisation of electricity systems and the transition to a net zero world through use of
smart technology.”
Octopus Energy are currently recruiting for their team in New Zealand. To find out more about the roles and how to
apply, please visit octopus.energy/careers/energy-specialist-nz/