Saudi Energy has signed final agreements to establish a strategic partnership with Kraken Technologies Limited, one of the world’s leading companies in AI-powered digital operating solutions for the utilities sector.

Under the agreements, the two parties will establish a joint venture headquartered in Riyadh, while Saudi Energy will acquire a minority equity stake in Kraken, said a Saudi Press Agency report.

The partnership supports Saudi Energy’s AI-driven digital innovation strategy and the development of advanced operating platforms for the energy and utilities sectors, contributing to improved operational efficiency, enhanced organizational resilience, and long-term sustainable growth.

The joint venture will serve as the exclusive distributor of the Kraken operating platform in the Middle East and North Africa (MENA), with a focus on building advanced regional capabilities, providing high-quality job opportunities in energy and digital technology, and accelerating the pace of digital transformation in the energy sector.

This partnership reflects Saudi Energy’s commitment to adopting advanced digital technologies and enhancing the future readiness of the electricity system in the Kingdom and across the region.

Kraken is a cloud-based operating system powered by AI, designed specifically for utility companies. It enables end-to-end digital operations across customer experience, billing, service management, data analytics, and smart systems. The platform currently supports more than 70 million customer accounts worldwide and operates in over 27 countries.