London-based Kraken has acquired Sennen, a provider of advanced software for the delivery and operation of large-scale renewable energy generation.
Kraken, a growing software provider for the energy industry globally, is part of the Octopus Energy Group. The tech platform connects all parts of the energy system and is working on providing services for other utilities such as water and broadband.
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The acquisition of the Bristol-based company will enhance Kraken's asset management offering, allowing it to develop more innovative products and services. The Sennen software uses cloud technology to streamline oversight, maintenance and daily operation of renewable energy projects.
Sennen will increase Kraken’s contracted energy generation and storage assets six-fold, growing them from 6.5GW to 36GW. It also marks the first time the platform will be managing offshore wind farms.
Devrim Celal, chief executive of Kraken, said: “This acquisition is a game-changer for us as we continue to disrupt the renewable energy landscape. Sennen's expertise and innovative solutions perfectly complement our mission to provide efficiency and scalability to asset managers. We are excited to join forces with Sennen’s talented team to turbocharge the move to a cleaner, cheaper energy world.”
Gaby Amiel, chief executive of Sennen Tech Ltd, added: “Our energy system needs to be completely rethought and rewired in order to operate free from fossil fuels. With renewable energy capacity set to triple globally, Sennen’s focus on meeting the challenges faced by renewable project owners will be of increasing importance. Kraken is at the absolute vanguard of the energy transformation. Together, we have the technology to unlock tremendous value for our customers.”
Sennen was founded by Gaby Amiel and Paul Grimshaw in 2017 with the aim of creating high performance software specifically for managing renewable energy assets. It is a 24-strong team, mostly based in Bristol, UK. Clients include leading renewable energy companies RWE and EDF Renewables and investment manager Foresight Group.
