bp buys Open Energi to enhance renewable energy assets: bp has purchased AI-run energy firm Open Energi as the energy giant seeks to better its renewable energy assets.
The second-mentioned company’s programme uses real-time data to enhance the operation of energy assets, which can assist in generating savings & expand revenues for customers by linking to power markets & supplying flexibility at times of low renewable generation and through price peaks.
Open Energi will become a part of the bp Launchpad portfolio, looking for opportunities to additionally scale the business worldwide and bp will investigate how the former company, now concentrated on the UK market, can work internationally throughout its trading & shipping business as well as low carbon portfolio.
Its platform, Dynamic Demand 2.0, uses AI to reduce electricity costs by examining and optimising assets and by way of lowering energy consumption at peak price periods, as well as supplying real-time data to traders.
The two applications are anticipated to help promote the bp Trading & Shipping customer contribution.
Sam Skerry, Senior Vice President bp Launchpad and Ventures stated: “Open Energi’s technology helps manage the intermittency of increasing global renewable capacity, creating both energy saving & revenue opportunities. The acquisition will help bp develop digitally-driven integrated energy systems & deliver innovative, efficient & flexible energy solutions for customers.
“As the world’s renewables capacity continues to grow, we’re excited to work with Open Energi to help optimise the cost of energy & the performance of low carbon energy assets & support our wider customer offer.”
bp buys Open Energi to enhance renewable energy assets