Tag: BP

bp invests $20m AUD in low-cost, rapid deployment solar provider 5B

Stuart Mitchell

bp ventures has made a $20 million AUD investment in 5B Holdings Pty Ltd, an Australian renewable company with technology that enables rapid deployment of solar power at scale. The investment closes 5B’s $55 million AUD Series B funding round, which was co-led by existing investors The AES Corporation and Artesian. 5B’s leading solar technology, the 5B Maverick®, consists of up to 90 solar panels mounted on specially designed frames that can be unfolded and installed at speed. To date, 5B has deployed its technology across more than 100 sites…

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bp and Mauritania to explore green hydrogen at scale

Stuart Mitchell

bp recently signed a Memorandum of Understanding (MoU) with the Government of Mauritania under which it will deliver an innovative programme exploring the potential for large-scale production of green hydrogen in the country. Building on bp’s existing strong relationships with the country, the agreement could be an important step towards the development of significant green hydrogen production in Mauritania.    The MoU was signed at last months COP27, by the President of Mauritania, His Excellency Mohamed Ould Cheikh El Ghazouani, H.E. Abdessalam Ould Mohamed Saleh, Minister of Petroleum, Mines and Energy…

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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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