BP Invests $5 Million in Mobile Electric Vehicle Charging Company FreeWire
January 30 2018 - 4:59AM
Dow Jones News
By Ian Walker
BP PLC (BP.LN) said Tuesday that it has invested $5 million in
mobile electric vehicle charging company FreeWire Technologies
Inc., and plans to trial the company's technology at selected
retail sites throughout the U.K. and Europe this year.
The oil major has made the investment via BP Ventures which
identifies and invests in private, high-growth technology
companies.
Since 2006, BP Ventures has invested over $400 million in
corporate venturing and has 42 active investments in its current
portfolio.
"Mobility is changing and BP is committed to remaining the fuel
retailer of choice into the future. EV charging will undoubtedly
become an important part of our business, but customer demand and
the technologies available are still evolving," said BP Downstream
Chief Executive Tufan Erginbilgic.
Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
January 30, 2018 04:44 ET (09:44 GMT)
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