BP Acquires UK Energy Optimization Business Open Energi

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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