BP Ventures invests £1.5 mill in energy monitor company Voltaware

Dev Sanyal (Chief Executive Alternative Energy and VP Regions at BP). Photo © BP. plc.

BP Ventures, in support of BP Alternative Energy’s strategy in low-carbon power, storage and digital energy, has invested £1.5 million in Voltaware. The innovative energy monitor developed by this company offers businesses the ability to track their energy demand in detail, down to individual appliances.

Dev Sanyal (Chief Executive Alternative Energy and VP Regions at BP)said on the investition operation: “Nearly two thirds of the projected growth in global energy demand over coming decades is expected to come in the form of electricity, and BP is looking at innovative ways to meet customers’ power and storage needs. Enabled by digital technologies such as those provided by Voltaware, we can be more efficient in the generation of electricity and how that power can be monitored, moved, sold, traded and stored.”

Voltaware has developed an Internet-enabled energy monitoring device that allows business and residential users to track and optimize their energy consumption, breaking the data down to demand from individual appliances, and manage their electricity use.

It also gives businesses the chance to proactively track the performance of individual machinery, so allowing them to run their businesses more efficiently and provide preventative maintenance on appliances showing abnormal energy usage levels. The data can be checked and analysed in real-time on a single device using the associated app.

Voltaware Energy Control. Image, by courtesy of BP, plc.

David Gilmour, Vice President, BP Ventures, said:”Governments, business and individuals must all play their part in advancing the energy transition. Realtime energy monitoring is growing in importance and the time is right for businesses to start adopting the technology. Voltaware’s product gives customers access to more information and enables better choices. BP Ventures believes Voltaware’s offer to businesses could lead to far more efficient operations.”

The investment in Voltaware follows that of BP Ventures in StoreDot. The company announced a $20 million investment in this ultra-fast charging battery company on 22nd May 2018.

David Gilmour, (Vice President, BP Ventures) -left-. Photo © BP. Sergey Ogorodnov, (Founder and CEO of Voltaware). Photo © Voltaware -right-.

Sergey Ogorodnov, Founder and CEO of Voltaware, said: “Modern utilities and businesses are looking at harnessing the power of electricity data as a key driver for their digital transformation strategy. By utilising the power of Voltaware’s electricity data intelligence, businesses can achieve a sustainable competitive edge for their customers. The £2.5 million invested by BP Ventures, First Imagine! Ventures and Contrarian Ventures, will help us focus on our AI and data science capabilities and speed up our growth.”

Image over the headline.- Voltaware app. © Voltaware.

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BP Ventures invests in ultra-fast charging battery developer StoreDot

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