22nd Jul 2021 14:44
(Alliance News) - BP PLC on Thursday announced the acquisition of energy optimisation platform Open Energi, and an exclusive deal with renewables consultancy Quaybridge Ltd.
Open Energi's digital platform uses real-time data to optimise the performance of energy assets," BP said. "It also accumulates data and learns how best to further optimise the energy use of different assets over time."
The company will be part of the London-based energy giant's venture capital portfolio, Launchpad. BP will look at expanding the business from its UK base to international markets. Terms of the acquisition were not disclosed.
"Open Energi's technology helps manage the intermittency of increasing global renewable capacity, creating both energy saving and revenue opportunities," BP's senior vice president of Launchpad & Ventures, Sam Skerry, said.
Separately, BP said it formed an exclusive agreement with Quaybridge, a renewable energy consultancy with global expertise in offshore wind. The two companies will work to advance BP's offshore wind portfolio.
"We believe this partnership will give us a cutting edge in a hugely competitive industry as we look to accelerate our global portfolio," said David Anderson, BP senior vice president of Renewables Growth.
BP shares were down 1.7% to 284.60 pence in London on Thursday afternoon.
By Ivan Edwards; [email protected]
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