BP Invests £4m in UK Electric Vehicle Fleet Software Company

Image credit: BP Pulse

BP Ventures has declared an investment of £4m in the electric vehicle fleet software company Dynamon, aiming to diversify its fleet services and help customers transition to zero-emission vehicles.

EV fleets can benefit from Dynamon's tools which offer cost management, improved operational dependability, and insight into the deterioration of batteries through sophisticated data analytics.

The Zero product from the company provides EV fleet supervisors with electricity demand predictions and a study of driving trends that can assist them in lowering expenditure on energy and capital by enhancing EV acceptance, charging infrastructure, energy costs, and fleet operations.

The organisation declared that, when trialled in a fleet of 4,000 last-mile vehicles, a partner discovered the potential to reduce energy costs annually by £22 million and carbon emissions by 8,700 tonnes using the tool.

Dynamon has recently received part of a Series A funding in the form of investment from BP. This brings the oil and gas giant's tech portfolio to 40 assets, which amounts to a billion dollars. It comes shortly after BP revealed a second-quarter profit of $2.6 billion.

The findings of a BP study suggest that many fleet managers and drivers in the UK anticipate integrating electric vehicles into their fleets within the next two years.

Burns, VP of BP Ventures, declared that quicker acceptance of energy and transportation alternatives with fewer carbon emissions will assist BP's goal of becoming a net zero company before or by 2050.

He expressed his enthusiasm for investing in Dynamon, a software firm utilizing software and data science as a service to help the transportation sector transition to greener energy fleets.

According to Angus Webb, the head of Dynamon, they are devoted to furnishing the transport sector with the most advanced fleet optimisation tools.

He highlighted the importance of complex analysis to ensure solid and cost-efficient electric vehicle solutions. To that end, Dynamon and BP have inked a deal to employ Zero or other related tools. Joining forces will allow BP Pulse to broaden its fleet choices and enhance its high-end customer service as they look to carry out more EV solutions.