BP Acquires UK Energy Optimization Business Open Energi
July 22 2021 - 2:40AM
Dow Jones News
By Jaime Llinares Taboada
BP PLC said Thursday that it has acquired Open Energi, a U.K.
AI-driven energy optimization business.
The British oil-and-gas major said Open Energi's digital
platform uses real-time data to optimize the performance of energy
assets.
The business can generate savings and maximize revenue for
customers by connecting to power markets and providing flexibility
at times of low renewable generation and during price peaks, BP
said. It also accumulates data and learns how best to further
optimize the energy use of different assets over time, it said.
BP didn't disclose the terms of the deal, but said Open Energy
will join its Launchpad portfolio to seek opportunities to further
scale the business globally.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
July 22, 2021 03:40 ET (07:40 GMT)
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