Palantir & bp Deepen Partnership, Accelerate Energy Transition
February 05 2021 - 6:00AM
Business Wire
Palantir Technologies Inc. (NYSE:PLTR) and bp (NYSE:BP) have
extended their partnership to support bp as it works towards its
ambition to become a net zero company by 2050 or sooner, and to
help the world get to net zero. Palantir will provide its software
to bp at the enterprise level, with global deployment across the
organization in a multi-year, multi-million dollar deal.
Palantir and bp have partnered since 2014, and Palantir’s
software has been a key accelerant in bp’s digital transformation.
bp has now committed to using Palantir’s Foundry software for five
more years and apply it to new areas of business to further
accelerate bp’s strategic digitization objectives and help support
delivery of its ambitious energy transition goals.
bp’s digital twin applications, powered by Palantir, have
already delivered significant value and enhancements in
hydrocarbon-based workflows. Now, there are opportunities to apply
these applications to accelerate bp’s new ambition, optimizing wind
farms, electric charging networks, solar generation, and supporting
the achievement of other aspects of bp’s net zero aims.
The partnership has yielded concrete results in operations
management, asset allocation, strategic planning, and procurement
and the Palantir platform and related applications will continue to
be used to deliver value in production, operations, simulation, and
modeling.
“We started this company to work on the hardest problems,” said
Shyam Sankar, COO of Palantir. “Helping deliver energy more safely
and efficiently, in a disrupted market, while supporting the
transformation of a business the size and scale of bp, is exactly
what we built this platform to do.”
Palantir also continues to support bp’s efforts in risk
monitoring, including workflows around infrastructure management,
and information flow management during the COVID-19 pandemic.
About Palantir Technologies
Palantir Technologies is a software company that builds
enterprise data platforms for use by organizations with complex and
sensitive data environments. From building safer cars and planes,
to discovering new drugs and combating terrorism, Palantir helps
customers across the public, private, and nonprofit sectors
transform the way they use their data. Additional information is
available at https://www.palantir.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These statements may relate to, but are not limited to,
Palantir’s expectations regarding the amount and the terms of the
contract and the expected benefits of our software platforms.
Forward-looking statements are inherently subject to risks and
uncertainties, some of which cannot be predicted or quantified.
Forward-looking statements are based on information available at
the time those statements are made and were based on current
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as of that time with respect to future events. These statements are
subject to risks and uncertainties, many of which involve factors
or circumstances that are beyond our control. These risks and
uncertainties include our ability to meet the unique needs of our
customer; the failure of our platforms to satisfy our customer or
perform as desired; the frequency or severity of any software and
implementation errors; our platforms’ reliability; and our
customer’s ability to modify or terminate the contract. Additional
information regarding these and other risks and uncertainties is
included in the filings we make with the Securities and Exchange
Commission from time to time. Except as required by law, we do not
undertake any obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future developments, or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20210205005057/en/
Lisa Gordon media@palantir.com
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