BP Acquires Renewable-Energy Technology Company Blueprint Power
07 October 2021 - 9:39PM
Dow Jones News
By Joe Hoppe
BP PLC said Thursday that it has acquired U.S.-based technology
company Blueprint Power, which helps turn commercial buildings into
flexible power assets that can generate, store and trade renewable
energy.
The British energy company said the technology provided by
Blueprint can help decarbonize dense urban areas, and help building
owners generate new revenue streams and reduce carbon
emissions.
Financial details of the deal weren't disclosed.
Blueprint currently works with five New York commercial
real-estate owners that collectively own more than 100 million
square feet of property in the city, BP said.
BP said that while Blueprint's existing work can generate 13
megawatts of renewable energy, it aims to increase this to 36
megawatts by the end of 2022.
The company said its growth plan for Blueprint will see it
launch in several U.S. urban power markets, and it will explore how
Blueprint can work with regions, cities, trading and shipping
business to lower the cost of carbon-intensive industries.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
October 07, 2021 06:24 ET (10:24 GMT)
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