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KrakenFlex teams up with Hydro REIN for international flexibility rollout

KrakenFlex was acquired by the Octopus Energy Group in 2020. Image: Octopus

KrakenFlex was acquired by the Octopus Energy Group in 2020. Image: Octopus

KrakenFlex, the energy flexibility arm of Octopus Energy Group, has partnered with renewable energy solutions provider Hydro REIN for several projects across Europe and North America.

The first of these, an initial pilot set to begin in April 2022, will see KrakenFlex optimise the output of Hydro REIN’s 500kW Tesla battery in North York, Ontario, with future projects to see the two companies scope out sites in Germany, Sweden and Spain.

The pilot will result in better usage of the energy stored in Hydro REIN’s battery, allowing offtaker Norsk Hydro – a global aluminium and renewable energy company which Hydro REIN is a part of - to reduce the energy bills and carbon footprint of its extrusion plant.

Devrim Celal, CEO of KrakenFlex, said: “KrakenFlex is on a mission to manage and optimise tens of thousands of energy devices in the next few years to match real-time demand with green electricity, helping to create a truly dynamic, flexible grid."

KrakenFlex was acquired by Octopus Energy in 2020, rebranding from its then-name of Upside Energy with the transaction.

The entech platform enables asset owners, energy traders, energy suppliers and system operators to monitor and manage their distributed energy devices - i.e. solar panels, batteries and electric vehicles - in real-time, optimising the performance of these assets.

KrakenFlex currently controls over 1,300MW across 1,200 green energy assets with a further 2,000MW of renewable energy to come online in early 2022. It is targeting management of 100,000 devices and 6,000MW of energy capacity by 2023.

KrakenFlex is also involved in a partnership between the Greater Manchester Combined Authority (GMCA) and Octopus Energy, aiming to increase the flexibility of Greater Manchester’s energy supply and create new jobs through the use of the platform alongside other measures such as new green tariffs.

This new deal with Hydro REIN follows Octopus Energy itself moving into several international markets including Asia, Germany and the US.


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