As we step into 2024, Sennen is entering a brave new world following the acquisition of the business by Kraken Technologies – part of Octopus Energy Group.
Sennen’s co-founders Gaby Amiel and Paul Grimshaw explain what this means for the business and how it will unlock even greater technological capabilities that will bring tremendous value to the renewables industry as a whole.
Can you tell us how Sennen reached this turning point?
When we launched Sennen back in 2017, it was at a time when the industry was just beginning to explore the benefits of using technology like ours to manage renewable assets. There were just a handful of us in Sennen at that time, mainly developers, focused on delivering a system for London Array. But it quickly became evident that there was huge scope for the product and we were successful in securing investment via two funding rounds as well as receiving funding from the Offshore Wind Growth Partnership (OWGP), which helped us develop our technology further. Our rapid growth has been hugely exciting and rewarding and we had got to the point where we could see how joining forces with a bigger operation would help us achieve our vision faster.Gaby Amiel, Sennen Co-Founder
And what is that vision?
Gaby and I have worked together for 18 years and, in whatever job we have been in together, we have always shared a commitment to tackling climate change. It’s why we have worked in renewables for most of our working lives. Decarbonising the world’s energy system is central to this and it’s a key driver behind why we set up Sennen. We could see that the industry needed a system that could transform how renewable assets were managed. Our vision is that sophisticated technology like ours is adopted across the industry to accelerate the clean energy transition.Paul Grimshaw, Sennen Co-Founder
How does Kraken Technologies fit with this?
Kraken is an ideal fit – commercially and culturally. They share this vision and have been searching for other solutions to manage a wider range of renewable energy assets. In that regard, Sennen was the ‘missing piece of the puzzle’.Gaby Amiel, Sennen Co-Founder
There’s a strong cultural alignment as well. In both companies, all team members are given freedom and responsibility and, as a result, the work environment promotes a supportive, enjoyable, and unwavering commitment to delivering the best for our clients. We are experts in our field. We see all this at Kraken too.Paul Grimshaw, Sennen Co-Founder
How will Sennen change as a result of the acquisition?
It’s still early days and there is lots to work through but the team will maintain their current roles, and we’ll continue to work remotely with Bristol as our main base, with trips to Manchester and London to get to know our new colleagues based at the Octopus and Kraken HQs. Sennen will exist as a dedicated team under Kraken’s umbrella. The Sennen brand will gradually be harmonised with Kraken. We will continue to retain and actively maintain all software functionality.Gaby Amiel, Sennen Co-Founder
What do you see as the main benefits of the acquisition?
I think the most important thing for us is that this strategic move allows us to redirect resources from fundraising activities, typical of a small business, towards an increased focus on our product, our client account management and experience and excitingly, grow further internationally.Gaby Amiel, Sennen Co-Founder
Now we are part of a much bigger operation, we can also meaningfully accelerate delivery of our product roadmap, ensuring that clients benefit sooner from new developments. And I am very much looking forward to working closely with the Kraken team to integrate our technology platforms where appropriate, and we see mutual opportunities arising out of this.Paul Grimshaw, Sennen Co-Founder
It’s also really exciting to be part of a bold organisation that is disrupting the energy industry. It’s exactly what is needed if we are to get anywhere close to net zero targets.Gaby Amiel, Sennen Co-Founder
And it’s fantastic to have captured the attention of such a respected name. The benefits to the wider industry are many – Kraken moves at incredible pace, and we really look forward to dramatically accelerating what we are doing. Together we will be able to build a system that is so powerful and we can do this faster than before, delivering a smarter, safer and more efficient way of working to a wider customer base.Paul Grimshaw, Sennen Co-Founder