BP has announced that its venturing business has invested $5 million in FreeWire Technologies Inc., a US-based manufacturer of mobile EV rapid charging systems, and plans to roll out FreeWire’s Mobi Charger units for use at selected BP retail sites in the UK and Europe during 2018.
Using FreeWire’s mobile system BP can respond very quickly and provide charging facilities at forecourts where there is the greatest demand without needing to make significant investments in today’s fixed technologies and infrastructure. BP also studies the opportunity to explore options for providing charging services away from its existing retail sites.
The Mobi Charger can be quickly and cost effectively scaled across vast transportation networks — flexibility that delivers benefits all along the EV charging value chain.
BP is committed to supporting the transition to a lower carbon economy through focusing on reducing its own operational emissions, improving its products to enable customers to lower their emissions and creating low carbon businesses. BP Ventures supports each of these areas by identifying emerging trends and businesses, making strategic investments and testing technologies and solutions for their scalability. The investment in FreeWire is an example of how BP Ventures is working alongside BP’s Downstream business.