Saudi Energy Partners Kraken to Drive AI-Led Energy Sector Transformation

Saudi Energy has signed final agreements to establish a strategic partnership with Kraken Technologies Limited, marking a significant step toward accelerating digital transformation in the energy and utilities sector.

As part of the agreement, the two entities will form a joint venture headquartered in Riyadh, while Saudi Energy will also acquire a minority equity stake in Kraken. The collaboration aligns with Saudi Energy’s broader strategy to integrate AI-driven digital solutions into its operational framework.

The newly formed joint venture will act as the exclusive distributor of Kraken’s AI-powered operating platform across the Middle East and North Africa (MENA) region. The initiative is expected to strengthen regional capabilities in energy technology, support job creation in digital and energy domains, and enhance the pace of innovation across the sector.

Kraken’s platform, a cloud-based AI operating system for utilities, enables end-to-end digital operations, including customer experience management, billing, service operations, data analytics, and smart energy systems. The platform currently supports over 70 million customer accounts globally and operates in more than 27 countries.

The partnership underscores Saudi Energy’s commitment to modernising the electricity ecosystem, improving operational efficiency, and building long-term resilience through advanced digital infrastructure.