British Business Bank Makes Its Biggest Direct Bet Yet on Energy Tech

The UK government is making its largest direct equity investment to date in an energy technology company, committing £25 million to Kraken Technologies as the AI-powered utility platform is spun out of Octopus Energy. The investment, made through the British Business Bank, forms part of a roughly $1 billion equity round that will see Kraken operate as a fully independent company with its own capital structure, governance, and leadership. For the British Business Bank, the deal marks a clear shift in strategy. The investment follows reforms…