Hypervolt signs a multi-year agreement with Kraken Technologies, a subsidiary of Octopus Energy Group, to Deliver KrakenFlex powered smart tariffs for Hypervolt's customers
London, UK – March 25th, 2024 – Hypervolt, a leading provider of smart home EV chargers, has signed a multi-year software agreement with Kraken Technologies, a subsidiary of Octopus Energy Group. This collaboration aims to bring SmartFlex tariffs powered by KrakenFlex to all Hypervolt's UK customers, offering a more optimised and cost-effective EV charging experience, and unlocking Octopus Energy Group's market-leading technology and EV-driver-specific tariffs for all of our UK customers.
Through this partnership, Hypervolt customers will gain access to innovative energy tariffs powered by Kraken Technologies, such as Octopus Intelligent Go, as well as other energy tariffs across the retail energy ecosystem that are powered by KrakenFlex.
These tariffs are designed to adjust energy costs based on factors like time of day or the source of energy being used. This allows EV drivers to take advantage of lower electricity prices during off-peak hours and potentially save money on their charging costs.
Flavian Alexandru, CEO, Hypervolt, said:
“We are thrilled to partner with KrakenFlex to offer our customers a more intelligent and cost-effective way to charge their electric vehicle. Kraken's innovative energy tariffs are a perfect complement to our smart home EV chargers, and together we can help accelerate the transition to a more sustainable future. ”
The Hypervolt-KrakenFlex partnership has the potential to significantly benefit the UK EV market:
- Growth of smart charging: Integration of intelligent tariffs into EV chargers could incentivise more people to switch to electric vehicles, knowing they can potentially benefit from lower energy costs. This could accelerate EV adoption in the UK and contribute to the country's sustainability goals.
- Better grid management: As the leading platform of the energy transition, KrakenFlex will better prepare the grid to support the anticipated growth in energy demand over the remainder of the decade and beyond, unlocking sustainable renewable energy for all EV drivers
Compatibility
We expect the Octopus Intelligent Go tariff, alongside other market-leading tariffs powered by the KrakenFlex platform to be available to our Home 3.0 and Home 3 Pro customers first, followed by general availability to all of our v2 customers, and the team at Hypervolt will continue to update our customers and partners on progress.
Availability
As this is a very complex software deliverable between the two companies, we expect at worst for the tariff to be available to all of our customers, at most by the end of 2024, however remain hopeful we may be able to offer a significantly more compelling timeline for our customers. We are happy to confirm joint development efforts between Hypervolt and Kraken Technologies have already begun.
As we continue to make progress, we will of course continue to update our customers and partners on the state of development. No matter how complex this deliverable is, both teams are incredibly excited about the prospect of enabling access to all of Hypervolt's UK customers.
About Hypervolt
Hypervolt is a leading provider of smart home EV chargers, committed to creating a seamless and sustainable charging experience for electric vehicle drivers. Their chargers are known for their innovative features, user-friendly design, and focus on maximising renewable energy use.
About KrakenFlex and Octopus Energy Group
KrakenFlex is a subsidiary of Octopus Energy Group, the leading energy provider in the UK market. They specialise in developing innovative and flexible energy solutions for a variety of customers, including EV drivers. Octopus Energy Group is the parent company of KrakenFlex and a leading force in the renewable energy sector.
Contact Information
For media enquiries, please contact:
For media enquiries, please contact:
Hypervolt Limited :
- Address: Hypervolt, One Canada Square, London E14 5AB
- Phone: +44 (0)333 090 3093
- Email: press@hypervolt.com
