bp
Canvas Category OEM : Petroleum and Coal
We are an integrated energy business with operations in Europe, North and South America, Australasia, Asia and Africa
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Oxford Flow receives $25M funding from bp Ventures and EIP
bp Ventures and EIP co-led the $25 million Series C funding round that will be used to scale up Oxford Flow’s operations.
Originally founded by Professor Thomas Povey in 2015, Oxford Flow is a spin-out of the Oxford Thermofluids Institute (OTI), an internationally renowned facility for aerospace solutions for jets and rockets, at the University of Oxford. The company’s technology has no mechanical drive train, stem or diaphragm, mitigating failure modes and leak paths and helping to address some of the challenges faced by the energy sector including improving valve reliability, reducing maintenance costs, and minimising fugitive emissions.
Palantir and bp Agree to 5-Year Strategic Relationship With New AI Capabilities
Palantir Technologies Inc. (NYSE:PLTR) and bp (NYSE:BP) have announced an enterprise agreement that will extend their strategic relationship and introduce new artificial intelligence capabilities with Palantir’s AIP software.
The new contract will build on a decade of deep collaboration that has created a firm foundation for bp’s oil and gas production operations, using Palantir’s industry-leading software. Since 2014, Palantir software has been deployed widely by bp to support its oil and gas production operations, from offshore oil platforms in the North Sea and the Gulf of Mexico, to the Khazzan gas fields in Oman.
Palantir’s AIP software will assist bp to safely and reliably harness large language models (LLMs) to improve and accelerate human decision-making with suggested courses of action based on automated analysis of the underlying data.
Hysata raises $111m USD led by bp Ventures and Templewater
Australia-based company Hysata is developing new high-efficiency electrolysers that aim to produce green hydrogen at scale with higher energy efficiency and lower costs than alternative technologies. The company’s technology combines engineering and science in a unique capillary-fed alkaline electrolyser that uses less energy to convert water to hydrogen.
bp Ventures and Templewater led the recent $111.3 million USD investment round in the company, with strong backing from existing major strategic and financial investors IP Group Australia, Kiko Ventures (IP Group plc’s cleantech platform), Virescent Ventures on behalf of Clean Energy Finance Corporation, Hostplus, Vestas Ventures and BlueScopeX. The company also welcomed new major strategic and financial investors POSCO Holdings, POSCO E&C, IMM Investment Hong Kong, Shinhan Financial Group, Twin Towers Ventures, Oman Investment Authority’s VC arm IDO and TelstraSuper.
Hysata will use the funding to expand production capacity at its iconic beachside manufacturing facility in Wollongong, New South Wales and further develop its technology as it focuses on reaching gigawatt scale manufacturing.
bp Leads $12.5 Million Series A Investment In Low-Cost Hydrogen Electrolyzer Innovator, Advanced Ionics
Advanced Ionics, the developer of a new category of hydrogen electrolyzers useful for expanding green hydrogen production, closed a $12.5 million Series A financing led by bp ventures, with additional investors including Clean Energy Ventures, Mitsubishi Heavy Industries, and GVP Climate.
The new capital will help catalyze Advanced Ionics’ growth and facilitate the initial deployment of its Symbion™ water vapor electrolyzer technology for heavy industry. Water vapor electrolyzers address two of the biggest obstacles to expanding green hydrogen production: cost and electricity requirements.
bp invests ÂŁ4m in fleet optimization software provider Dynamon and announces commercial agreement
bp ventures has made a £4 million investment in Dynamon, a UK-based software company that specializes in developing advanced data analytics and simulation tools for commercial transport and logistics companies. The funding forms part of Dynamon’s Series A round, being raised to fully commercialize and scale up its platform and expand its operations in Europe and into North America.
In a Dynamon 4,000-vehicle last mile trial, a customer using ZERO software identified a potential ÂŁ22 million annual energy cost saving (ÂŁ0.28/mile diesel vs ÂŁ0.125/mile electric), and 8,700 tonnes annual CO2 saving (609.86 g CO2e/litre diesel) after the tool analysed the best solution for fleet electrification.
♻️ bp expands investment in bioenergy, collaborating with US biofuels developer WasteFuel
bp invests $10 million in WasteFuel, which is planning to develop a global network of plants to convert municipal and agricultural waste into bio-methanol, a biofuel which could play a significant role in decarbonizing hard-to-abate sectors like shipping. The investment allows WasteFuel to advance its plans to develop its first waste-to-bio-methanol plant in the UAE.
bp and WasteFuel have entered a memorandum of understanding for bp to offtake the produced bio-methanol and for the companies to collaborate on improving bio-methanol production yields & economics.
Eavor commences commercialization through major investment and landmark partnership with OMV
Eavor Technologies Inc. (“Eavor”), the leader in globally scalable geothermal closed-loop technology, has completed the first close of their Series B equity round. OMV AG (“OMV”) leads the round with a €34 million (C$50mm) investment and has entered into a commercial agreement with Eavor to pursue large-scale deployment of Eavor-Loop™ technology in Europe and beyond. Follow-on investments from Eavor’s existing partners include bp Ventures, Eversource Energy and Vickers Venture Partners. Concurrently with the raise, Chubu Electric Power has converted its debenture.