Australia’s top power retailer, Origin Energy, is doubling down on energy tech, confirming a $140 million contribution to Kraken Technologies’ massive $1 billion equity raise.
🤝 THE STRATEGIC TRADE-OFF: This isn’t just a cash injection; it is a strategic restructuring of rights.
- The Give: Origin has agreed to waive its exclusivity to the Kraken platform in the Australian market.
- The Get: In exchange, Origin secures an additional 1.5% equity interest in the tech unicorn.
- The Position: This adds to Origin’s significant footprint, as it already holds a 22.7% stake in Kraken’s parent company, Octopus Energy (UK).
💡 ANALYST VIEW: Origin is pivoting from “gatekeeper” to “global shareholder.” By allowing Kraken to license its software to other Australian players, Origin bets that the value of its increased equity stake in a globally scaling SaaS platform outweighs the benefits of local exclusivity.
👇 Energy Investors: Is software scalability now more valuable to utilities than market protectionism?