Saudi Energy has signed agreements to establish a partnership with Kraken Technologies Limited, a company specializing in AI-powered digital operating solutions for the utilities sector, to launch a joint venture headquartered in Riyadh.
The agreement marks a significant step in advancing the Kingdom’s digital transformation ambitions within the energy ecosystem.
As part of the deal, Saudi Energy will acquire a minority equity stake in Kraken, reinforcing its long-term commitment to leveraging advanced technologies to modernize energy and utility operations.
The collaboration aligns closely with Saudi Energy’s broader strategy to embed artificial intelligence into core operations.
By integrating Kraken’s advanced digital platform, the partnership aims to enhance operational efficiency, strengthen organizational resilience, and support sustainable long-term growth across the sector.
The joint venture will act as the exclusive distributor of Kraken’s operating platform across the Middle East and North Africa (MENA) region.
This move is expected to accelerate the adoption of intelligent, data-driven systems within regional utilities, enabling faster, more efficient service delivery and improved system reliability.
Beyond technological advancement, the initiative is poised to play a key role in building regional digital capabilities.
The Riyadh-based venture will focus on developing local expertise in energy technology while creating high-quality employment opportunities in both the energy and digital sectors.
Kraken’s cloud-based operating system is specifically designed for utility companies, offering end-to-end digital solutions spanning customer experience, billing, service management, data analytics, and smart grid integration.
Currently supporting more than 70 million customer accounts across over 27 countries, the platform is widely recognized for its scalability and efficiency.
The partnership underscores Saudi Energy’s commitment to adopting cutting-edge digital solutions and strengthening the future readiness of the Kingdom’s electricity infrastructure.
