Tag: BP

bp accelerates and expands in bioenergy, agreeing to buy leading US biogas company Archaea Energy

Stuart Mitchell

In a move that will expand and accelerate the growth of its strategic bioenergy business, bp has announced that it has agreed to acquire Archaea Energy Inc., a leading producer of renewable natural gas (RNG) in the US. The agreed acquisition, which is subject to regulatory and Archaea shareholder approval, will be for $3.3 billion in cash, as well as around $800 million of net debt.   Bioenergy is one of five strategic transition growth engines thhttps://www.archaeaenergy.com/at bp intends to grow rapidly through this decade. bp expects investment into its transition…

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bp to invest up to £50 million in new global battery research and development centre in Britain

Stuart Mitchell

bp has unveiled plans to invest up to £50 million (around $60 million) in a new, state-of-the-art electric vehicle (EV) battery testing centre and analytical laboratory in the UK. bp has previously announced its intention to invest up to £18 billion in the UK’s energy system by the end of 2030; this additional new investment is a further example of bp’s commitment to the country. Planned to open by the end of 2024, the new facilities will be located at bp’s existing global headquarters for its Castrol business in Pangbourne,…

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Iberdrola and bp enter collaboration to accelerate green hydrogen production and EV charging infrastructure

Stuart Mitchell

Iberdrola, and bp have announced their plan to form a strategic collaboration aiming to help accelerate the energy transition. Together, the companies intend to develop large scale green hydrogen production hubs in the UK, Spain and Portugal as well as significantly expand fast EV public charging infrastructure to support the adoption of electric vehicles. The Chairman of Iberdrola, Ignacio Galán, stated: “With bp, we intend to help advance in the decarbonisation and energy self-sufficiency through the electrification of two key sectors of our economy, transport and industry. The scale of…

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bp and thyssenkrupp Steel work together to advance the decarbonisation of steel production

Stuart Mitchell

bp and thyssenkrupp Steel have announced they have signed a memorandum of understanding (MoU) focused on the development of long-term supply of low carbon hydrogen and renewable power in steel production, helping accelerate the steel industry’s wider energy transition.   thyssenkrupp Steel accounts for 2.5 percent of CO2 emissions in Germany, mainly at the Duisburg site where the main emitters, the blast furnaces, are operated. By replacing the coal-fired blast furnaces with direct reduction plants where iron ore is reduced with low-carbon hydrogen, thyssenkrupp Steel intends to make steel production climate-neutral…

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bp to lead and operate one of the world’s largest renewables and green hydrogen energy hubs based in western Australia

Stuart Mitchell

bp has agreed to acquire a 40.5 per cent equity stake in and to become operator of the Asian Renewable Energy Hub (AREH), which has the potential to be one of the largest renewables and green hydrogen hubs in the world. Based on the development of world-scale renewable power generation, AREH, in the Pilbara region of Western Australia, intends to supply renewable power to local customers in the largest mining region in the world and also produce green hydrogen and green ammonia for the domestic Australian market and export to…

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