Saudi Energy acquires stake in Kraken Tech, forms joint venture in Riyadh - ارقام
SPA · · Significant research
Summary
Saudi Energy has acquired a stake in UK-based Kraken Technologies, a subsidiary of Octopus Energy Group, specializing in AI-enabled technology for smart grids and energy management. This acquisition includes the establishment of a joint venture headquartered in Riyadh. The partnership aims to localize advanced energy technology within the Kingdom. Why it matters: This strategic collaboration is significant for advancing energy technology and smart grid solutions in Saudi Arabia, aligning with national goals for technological development and energy efficiency under Vision 2030.
Keywords
Saudi Energy · Kraken Technologies · Joint Venture · Smart Grids · Energy Management
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