BP Acquires Open Energi to Optimise Renewable Energy

BP announced the successful acquisition of Open Energi, a technology company that develops a platform for renewable energy optimisation

The sheer scale of net-zero carbon developments requires a high level of technology to maintain and optimise the outcomes of renewable energy projects. BP has completed an important acquisition that will provide access to market-leading technology from Open Energi

Who is Open Energi? 

Throughout the past 10 years, Open Energi has embedded itself in the energy and technology industries. Currently, its products and services support the operation of a broad network of energy assets with a total capacity of 80MW. Its Dynamic Demand 2.0 platform is designed to automatically distribute power from low-carbon technologies, such as battery storage, EVs, demand-side response, hydrogen electrolysers and smart buildings, to optimise power usage. 

BP’s Strategy for International Emission Reduction

David Hill, Commercial Director at Open Energi, says, ‘For the growing renewable energy capacity the world needs to meet global carbon reduction targets, we will need efficient energy optimisation’. Hill continues, ‘As such Open Energi is fantastically positioned to grow, and we could not be more excited to be partnering to deliver that growth with BP Launchpad. [...] Its role within the business will allow us to maintain our independence, while BP’s net-zero ambition and its new strategy align perfectly with our ambition and vision’.

The company has taken on Open Energi as a provider of a digital platform to optimise its renewable energy projects and optimise net-zero carbon initiatives, including battery storage and solar plants. BP also expects to see cost savings and revenue growth and gain flexibility at times of low renewable energy generation and price peaks. It will also accumulate important data and leverages machine learning to optimise various assets.

Open Energi will join BP’s launchpad portfolio, as it explores the opportunities for Open Energi’s technology - currently used solely in the UK - to be implemented across international markets, as BP makes plans to leverage the platform across its trading and shipping business and its international low-carbon portfolio. 

Share

Featured Articles

UK Government awards £54mn in heat network funding

Funding will support the development of schemes in London, Bedfordshire and Woking that use low-carbon heat sources

Shell posts $11.5bn second quarter profit

Shell's earnings fuelled by ongoing price rises and geopolitical instability as the energy major places greater focus on natural gas investments

bp opens first electric truck fast-charging facilities

Operated by bp’s Aral brand, the retail site at Schwegenheim in Rheinland-Pfalz has two 300kw chargers intended for electric trucks

Shell commits to developing Jackdaw gas field in North Sea

Oil & Gas

Prospex Energy raises £1.87m for Selva gas field development

Oil & Gas

Shanghai Electric Group launches low carbon business

Utilities