11. Octopus Energy

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British-based power player Octopus Energy is seeking to disrupt traditional utilities with a tech-driven approach using AI, cloud computing and data analytics.

CNBC’s 12th annual Disruptor 50 list highlights private companies upending the classic definition of disruption as AI leads new business models beyond the era of better, faster and cheaper innovation.Aiming to spark further transition to renewable energy, British-based power conglomerate Octopus Energy pulled in $800 million in new funding last year to expand internationally and is leveraging AI technology in its cleantech business.

Profitable and with operations spanning 18 countries, the company has more than doubled its retail business over the past two years and currently serves more than 7.8 million customers and 60,000-plus business accounts. The group's Kraken software and data analytics system, which helps utilities track energy usage for efficiency, has been licensed to 54 million international accounts, up from 17 million in 2020, and the goal is to reach 100 million by 2027.

 

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