BP has announced that it has expanded its digital energy portfolio by investing in Grid Edge, a developer of AI technology that can anticipate a building’s energy demand.
Grid Edge’s software allows customers to adapt energy use, leverage periods where there is high renewable power generation and use their building’s flexibility in demand and generation like a “giant battery”, according to BP, reducing both costs and carbon emissions. It means customers are able to optimise their building’s energy portfolio and could cut carbon emissions by 10-15%.
The technology is likely to benefit airports, business distracts and shopping centres.
Nacho Gimenez, Managing Director of BP Ventures, said: “Digital technologies are a critical component to drive the transition to a low-carbon future. Using data, we can unlock the flexibility in-built in existing energy systems. This is the most efficient way to reduce the carbon intensity and power consumption required to keep buildings comfortable.”