Depsys acquired by UK Energy Group

02 Dec, 2022

Kraken, part of Octopus Energy Group in the UK, has acquired Depsys to extend its network operator offering. Integrated into Kraken, Depsys' GridEye technology platform will provide analytics, data, and real-time monitoring, including fault management, power quality, and power flow modeling.

The Depsys technology provides real-time data for grid managers to allow them to better understand, control and evolve their networks. This is designed to enable network upgrades and support the integration of renewable technologies. Using Depsys solutions for digitizing the grid is up to 700 times cheaper than making more onerous physical improvements and allows operators to save 60% of the time on grid analyses. 
Kraken offers its clients end-to-end management of the whole energy supply chain through one simple platform, creating relentless efficiency, flexibility to a scale never seen before, and unrivaled scaling potential in a renewable world. 
Kraken’s flexibility division is currently contracted to control over 4.3 GW across 13,000 green energy assets. Kraken is already managing 1.21 GW of this capacity–enough to power Dr. Emmett Brown’s time travel machine in the Back to the Future franchise–with the remaining assets to come online in the next year. 
"By using and integrating Depsys’ technology into Kraken’s flexibility platform, we are enabling far more granular monitoring of all manner of green energy resources, like EVs, renewable generators, and more," said Devrim Celal, CEO of Kraken. "With the help of this new technology, grid operators will be able to save huge amounts of cash on costly physical upgrades by looking at a full-service, digital solution. We can’t wait to get started in Switzerland." 
Michael De Vivo, CEO of Depsys, said he was excited to become part of Kraken, and to bring network expertise and technology to the group. "We are joining forces with a like-minded team who share our ambitions to play a major role in using technology to digitalize the transition to a net zero world," he said.