Saudi Energy (SE) and Kraken announced the signing of definitive agreements for a strategic partnership with Kraken Technologies (Kraken), a global provider of an AI-powered operating system for the utilities sector.

Under the agreements, SE and Kraken will establish a joint venture headquartered in Riyadh to accelerate digital transformation across the energy and utilities sectors in the Middle East and North Africa (Mena).

The joint venture will serve as the exclusive reseller of the Kraken operating system across the Mena region. It will also focus on:

• Deploying the Kraken operating system to modernise utility operations and customer experience
• Building regional digital capabilities and developing local talent
• Supporting job creation across the energy and technology ecosystem in line with Saudi Arabia’s digital and economic objectives under Vision 2030
  

The JV will also have the rights to deploy Kraken to 11.5 million SE customer accounts, supporting SE’s AI-driven digital innovation strategy and its ambition to enhance operational efficiency, organisational resilience, and long-term sustainable growth. 

As part of the agreements, SE will also acquire a minority strategic equity stake in Kraken, reinforcing long-term alignment between the two companies.

Kraken’s platform is a fully cloud-based, AI-enabled operating system designed specifically for utility companies.

It enables end-to-end digital operations, including customer experience, billing, service management, data analytics, and intelligent system optimisation.

The platform currently supports more than 90 million customer accounts on behalf of leading global utilities and operates in over 15 countries. -OGN/TradeArabia News Service