Investing in energy management
To help grow our digital energy portfolio, we have invested in Grid Edge, an energy management company. Its technology helps customers predict, control and optimize a building’s energy profile.
Grid Edge can help customers lower carbon emissions by 10-15% on average.
The cloud-based software can anticipate a building’s energy demand using data such as weather forecasts and expected occupancy.
- This allows building managers to adapt energy use and take advantage of periods of high renewable power generation.
- Customers can also use their building’s flexibility in energy demand and generation as a giant battery.
“This investment is in support of our strategy to create an ecosystem of distinctive, digitally enabled, low carbon businesses for commercial and industrial customers.
This investment is in support of our strategy to create an ecosystem of distinctive, digitally enabled, low carbon businesses for commercial and industrial customers.Nick Wayth,chief development officer, BP Alternative Energy
Going big in biofuels
BP has formed a 50:50 joint venture in Brazil with leading agri-commodities company Bunge Limited. The deal expands our existing biofuels business by more than 50%.
BP Bunge Bioenergia is now the second-largest operator by effective crushing capacity in the country’s bioethanol market.
Brazil is the world’s second-largest market for ethanol as a transportation fuel, with around 75% of the country’s vehicles able to run on it.
Demand for ethanol is growing rapidly in the country. In 2019 demand increased 10% versus 2018 and is set to increase up to 55% by 2030.
“With a shared commitment to safety and sustainability, bringing together our assets and expertise allows us to improve performance, develop options for growth and generate real value.Dev Sanyal,chief executive of BP Alternative Energy