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.