BP Ventures has invested in energy management specialist, R&B, marking its first steps into artificial intelligence (AI) in China.
The $3.6mn investment into R&B, confirmed on 9 January, will support BP Alternative Energy’s focus on low carbon power, storage, digital energy value chain and wider energy-as-a-service offers. R&B’s energy management systems are designed to predict, control and improve a building’s energy use.
R&B’s software-as-a-service applies AI techniques to energy diagnostics and optimisation in the commercial and industrial sector, processing data to then generate insights and recommendations on how to improve energy efficiency and enhance predictive maintenance in buildings. This will enable building managers to make informed decisions on optimising energy performance and, subsequently, reducing carbon emissions.
Graham Howes, Managing Director of BP Ventures, Asia, said: “Improving the energy efficiency of buildings will be crucial for the transition to a lower-carbon world. The C&I buildings sector in China is large and still expanding, so the potential to affect change is significant. R&B’s technology is aimed firmly at this important opportunity.”