bp acquires Open Energi
The company’s digital platform uses real-time data to optimise the performance of energy assets. It can generate savings and maximise revenues for customers by connecting to power markets and providing flexibility at times of low renewable generation and during price peaks. It also accumulates data and learns how best to further optimise the energy use of different assets over time.
Open Energi will join the bp Launchpad portfolio, seeking opportunities to further scale the business globally, and building on its strong commercial growth over recent years. bp will also explore how Open Energi, which is currently focused on the UK market, can work internationally across its trading & shipping business and low-carbon portfolio, both of which play an important role for its net zero ambition.
Over the past decade Open Energi has developed into a prominent energy technology company. Its products and services are used to optimise the performance of a network of energy assets with a total capacity of over 80MW. The share of the primary energy from renewables is projected to increase from around 5% in 2018 to 60% by 2050 in the Net Zero scenario set out in bp’s Energy Outlook (2020 edition).
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