Achieving net zero emissions of greenhouse gases will require the development and scale of a wide range of transformative technologies and business models. Unlike traditional venture capital firms, bp serves as both investor and end-user of the technologies in which we invest. This helps us integrate promising startups into the broader innovation engine that powers our businesses. That is particularly true in the low carbon space, and many of our venture companies are leading the way.
In the US, the transportation sector generates about 29% of total greenhouse gas emissions – the largest of any single economic sector. Primarily these emissions come from cars, trucks, ships, trains and airplanes. To reach net zero, the US must transform the way we move – and bp ventures is investing in greening the future of mobility.
Boosting electric vehicle (EV) charging
At bp, we want to make it easier for consumers to charge their electric vehicles (EVs) fairly and affordably. That’s one reason bp ventures invests in FreeWire Technologies, Inc., a California-based manufacturer of mobile EV rapid-charging systems.
FreeWire has accelerated the transition to low carbon mobility and our investment has bolstered the fast-growing EV supply equipment market while helping us gain valuable insights about customer demand.
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