bp invests £4m in Dynamon
London, 03 August, 2023, (Oilandgaspress) – bp ventures has made a £4 million investment in Dynamon, a UK-based software company that specializes in developing advanced data analytics and simulation tools for commercial transport and logistics companies. The funding forms part of Dynamon’s Series A round, being raised to fully commercialize and scale up its platform and expand its operations in Europe and into North America.
With an expanding selection of EVs and more options for charging infrastructure, researching and trialling every possible solution is both time intensive and costly. Dynamon’s software and analysis tools are deployed in many countries, and help businesses understand actions they can take to help decarbonize their fleets cost-effectively, improving research and trial time.
Dynamon’s flagship software ZERO also helps to address these issues by developing solutions that could save energy and capital investment costs, including calculating the best options for adoption through planning for vehicles, charging infrastructure, energy costs, and operations analysis.
In a Dynamon 4,000-vehicle last mile trial, a customer using ZERO software identified a potential £22 million annual energy cost saving (£0.28/mile diesel vs £0.125/mile electric), and 8,700 tonnes annual CO2 saving (609.86 g CO2e/litre diesel) after the tool analysed the best solution for fleet electrification.
Currently, global logistics and transport companies are facing a challenging transition to decarbonize and optimize fleet operations, which place pressures on procurement departments tasked with cost-effectively electrifying large-scale fleets. Recent bp industry research shows that nearly half of UK fleet managers (43%) and fleet drivers (41%) think they’ll begin introducing EVs to their fleets within the next two years .
bp is planning to invest more into its five transition growth engines, one of which is EV charging, while at the same time investing in today’s energy system, as it delivers its strategy of becoming an integrated energy company.
Information Source: Read More
Energy Monitors , Electric Power , Natural Gas , Oil , Climate , Renewable , Wind , Transition , LPG , Solar , Electric , Biomass , Sustainability , Oil Price , Electric Vehicles,
