BP Ventures identifies and invests in private, high growth, disruptive technology companies, accelerating cutting edge innovations that are applicable to the energy sector
Venturing brings us insight and access to cutting edge technologies
Our focus is on innovation in its broadest sense: new technologies, new business models, and new geographies. We are investing in and partnering with entrepreneurial companies around the world, and using technical expertise and venturing experience to shape options in conventional and alternative energy. We invest in Upstream, Downstream as well as Carbon Management technologies. The investment portfolio is built around emerging technologies in oil and gas exploration plus a range of specialised innovations and technologies in the following sectors: bioenergy, energy efficiency and storage, carbon management, digital.
- Since 2007, BP Ventures has invested over $230 million in corporate venturing.
- Current active portfolio includes over 20 direct investments, with over 80 co-investors.
By partnering with growth-stage start-ups, we can broaden our options and leverage BP’s ability to bring successful technologies to fruition on a large scale. Equity investments help to accelerate the technology development and commercial viability of the start-up companies we invest in.
Venturing case studies
Sensing the wells
Fibre optic monitoring technology that originated in the telecommunications industry has been picked up by the oil and gas industry to monitor wells where distance and access can be challenging. Fotech has developed an optical fibre based distributed acoustic sensing (DAS) and data formatting system for in-well and surface applications. Fotech’s technology offers real time data analysis and visualisation of events that occur at any point along the fibre inside the well which can be several kilometres in length. BP has successfully deployed the technology in North America and Azerbaijan. Fotech is now trialling its technology for seismic monitoring, which will open up new deployment opportunities.
- In-Well Monitoring - From well completion to production through to abandonment, DAS provides data for Well Engineers and Operators to visualise every section of a well to optimise operations and deliver long term well integrity.
- Subsea monitoring - Operators are able to identify threats to pipelines by gaining real-time spatial awareness of subsurface events from anchor placement and drag to criminal activities.
- Above Ground Pipeline Monitoring - Surface pipelines are an exposed and highly valuable asset. Disruption to operations or environmental incidents may cause serious damage and financial impact. Continuous monitoring and accurate detection of unauthorised activity is vital for rapid response and mitigating actions.
Energy recovery from steam
20 to 50 % of industrial energy usage is eventually released as waste heat, posing an enduring challenge. The novel screw expander technology developed by Heliex Power can help harness and exploit this waste energy, improving energy efficiency plus reaping the rewards of a reduced carbon footprint and lower energy bills. The energy recovered from industrial processes is converted into electricity which can be used on the site or sold back to the grid.
While high-pressure steam energy recovery using turbines is common, Heliex’s expanders can operate in lower-temperature, lower-quality steam regimes opening access to a significant global market. The unique expander design eliminates the use of timing gears reducing cost and complexity of the package energy recovery system. Heliex Power systems are now installed across Europe, both for energy recovery and process steam pressure reduction, improving efficiency across a diverse range of industries such as chemical, steel, glass manufacture, distilling and agricultural waste.