A Bristol tech firm developing highly specialised software that makes renewable energy operations safer and more efficient has been acquired by a major player in the global industry.
Sennen, which was launched in 2017 and now has a team of 25 experts, was taken over shortly before Christmas by Kraken, the fastest-growing software provider for the international energy industry.
Kraken, part of Octopus Energy Group, said the acquisition would increase its contracted energy generation and storage assets sixfold, growing them from 6.5GW to 36GW.
It also marks the first time the platform will be managing offshore wind farms.
Sennen’s software uses the latest cloud technology to streamline oversight, maintenance and daily operation of renewable energy projects.
Joining forces with Sennen would enhance Kraken’s Asset management offering, the firm said, allowing it to develop more innovative products and services.
Sennen was founded by Gaby Amiel and Paul Grimshaw with the aim of creating high-performance software specifically for managing renewable energy assets.
Clients include leading renewable energy companies RWE and EDF Renewables and investment manager Foresight Group.
The London Array, the 175-turbine wind farm 20km off the Kent coast, was the first project to deploy Sennen’s highly specialised offshore wind software, which offers a centralised system for all aspects of offshore operations.
At present much of work linked to building wind farms offshore is done manually, making the process unwieldy and inefficient.
Kraken said Sennen’s employees will continue to work from their office in Bristol.
Kraken is currently contracted to manage more than 6.5 GW across 140,000 green energy assets in 12 countries.
Devrim Celal, CEO of Kraken said: “This acquisition is a game-changer for us as we continue to disrupt the renewable energy landscape. Sennen’s expertise and innovative solutions perfectly complement our mission to provide efficiency and scalability to asset managers.
“We are excited to join forces with Sennen’s talented team to turbocharge the move to a cleaner, cheaper energy world.”
Sennen CEO Gaby Amiel added: “Our energy system needs to be completely rethought and rewired in order to operate free from fossil fuels. With renewable energy capacity set to triple globally, Sennen’s focus on meeting the challenges faced by renewable project owners will be of increasing importance.
“Kraken is at the absolute vanguard of the energy transformation. Together, we have the technology to unlock tremendous value for our customers.”
Sennen was advised by Bristol-based law firm Roxburgh Milkins. Financial details of the deal have not been disclosed.
