Why FlexPower Startup Scheme Has Been Signed With BP – The Trade Controller

global energy giant BP Own Manhattan Strength of the schemeBP announced Thursday, a proptech startup that has created proprietary software that enables real estate portfolios to become sources of cleaner, flexible energy.

The terms of the acquisition have not been announced.

Upon acquiring Blueprint Power, BP has taken its latest steps towards what it announced on the company’s website as “A trip to net carbon emissions.

“BP, as a global company, has gone through a massive shift towards net business and strategy,” he said Robin Pevers, founder and CEO of Blueprint Power. “There are some key commitments in terms of capital allocation and decarbonization of their core business that have taken place after the Blueprint started.

“For BP, it’s actually something new. It’s about 18 to 24 months old. And they’ve been moving really fast. As part of that strategy, they’ve been strategically looking for technology companies that can help them accelerate this transformation.”

BP’s platform will allow Blueprint Power, which was founded in 2017 and has 11 full-time employees, to hire and expand quickly, Beavers said. “As a company, they bring in commercial offices with some of the best energy dealers in the business, other companies and platforms in the renewable energy space, and they have a huge platform for charging electric vehicles. All of these pieces are really strategic for us. It’s a nice match for both sides. Blueprint can Strategically faster expansion, but also to help in the overall transformation of BP towards this new future for them.”

Asked if the acquisition of a fossil fuel-based company had caused her any concerns about BP’s commitment to clean energy, Beavers said, “BP is at an interesting point in time, with a massive shift toward decarbonization of its own business, Which is obviously huge incremental value in terms of climate impact.They’re also expanding their business into clean energy and the kinds of things the scheme does.

“By partnering and rowing in the same direction with them, I really believe it will make an impact faster than trying to do it separately from each other. I think this partnership and collaboration speaks to the increasing speed with which we can achieve climate impact, and that is the most important thing to me.” “.

Beaver said the acquisition was “organic.” “One BP woman attended our first ever test day. She’s been following us ever since. It was your usual organic network approach.”

Founded in response to new energy regulations after Hurricane Sandy blackout in New York City, Blueprint uses custom algorithms to improve energy efficiency in buildings and connect them to energy markets. This allows commercial building owners to sell excess energy stored in batteries or energy generated on-site from equipment such as solar panels.

Blueprint Power works with some of the largest commercial property owners in New York City, including HeinzAnd frac organizationAnd linarAnd maserishAnd RelatedAnd Tishman Speyer And Vornado Realty Trust, which together owns more than 100 million square feet of real estate in the city and generates 13 megawatts of renewable energy, according to the company. BP and Blueprint want to increase this figure to 36 megawatts by the end of 2022.

“Decarbonizing dense urban areas is a major challenge as we work to play our part in achieving a carbon-neutral world,” Sam SkerrySenior Vice President, BP Launchpad & VenturesHe said in a statement. “Blueprint technology can help bring about this critical shift. It can help secure access to renewable energy and, most importantly, create new business opportunities for many sectors. This is exactly the kind of company that BP wants to expand and expand rapidly through the BP Launchpad accelerator. our own”.

BP Launchpad is the company’s in-house accelerator focused on multi-year funding and startup growth.

Blueprint technology can support the decarbonization of real estate, which has one of the highest carbon footprints of all sectors, contributing approximately 28 percent of global annual income. greenhouse gas emissions.

Philip Russo can be reached in prusso@commercialobserver.com.

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