One is the outcome of a court battle between the water company's class A and class B bondholders, both of which have said they want to lend a further £3bn to help Thames Water survive.
Kraken, which works with UK water companies including Severn Trent and Portsmouth Water, says that it reduces water leakages, and reduces costs for both companies and customers.
Sky News has learnt that Octopus Energy - which recently overtook British Gas as Britian's biggest household gas and electricity supplier - has struck an agreement that would see its technology arm managing Thames Water's 16 million customers.
The consortium comprising Covalis, Suez and Octopus Energy was among fewer than a handful which tabled indicative offers to help Thames Water raise roughly £3bn in fresh equity ahead of a deadline on Monday.
The emergence of Octopus Energy's involvement in the Thames Water crisis underlines the scale of Kraken's ambitions as it further extends its reach beyond the energy sector.
