Australia's Origin Energy to pump $140 million into Kraken's equity raising

Origin Energy

29/12/2025 21:53

Dec 30 (Reuters) - Australia's Origin Energy ORG.AX said on Tuesday it would contribute $140 million to a $1 billion equity raising by Kraken Technologies, backing the technology arm of Britain's largest power supplier, Octopus Energy.

Origin, Australia's top electricity and gas retailer, holds a 22.7% stake in Octopus Energy.

It has agreed to waive exclusivity to the Kraken platform in Australia in exchange for an additional 1.5% equity interest.

After these transactions, Origin's economic interest in Kraken will remain at 22.7%.

 (Reporting by Shivangi Lahiri in Bengaluru; Editing by Shilpi Majumdar)

 ((Shivangi.Lahiri@thomsonreuters.com;))