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A passion for driving real change: Nacho's story

Published:
16 October 2020
Nacho describes his career with bp as a “voyage of discovery”. Across his 19 years with the company, he has held roles in engineering, trading, and most recently, venture capital
Ignacio (Nacho) Gimenez

Now, as managing director of bp ventures, Europe & Middle East, he is playing a crucial role in supporting bp’s net-zero ambition.

 

“In the last nine months, there have been many changes at bp. Bernard Looney’s appointment has truly given a new meaning to bp ventures - I am really excited about the trajectory we are on”, Nacho says. 

 

bp ventures invests in game-changing technologies and businesses that can help us reimagine our global energy system. These investments play a key role in helping bp deliver on its wider ambition – to transition into a net zero integrated energy company by 2050, or sooner. In his role, Nacho relishes the opportunity to implement change, in a position he sees as a “magical meeting point” between business, technology and people: 

 

 

I think global warming is the greatest challenge humankind has ever faced. I’m proud that bp ventures is looking at how technology can help us reach net zero and improve people’s lives. I’m inspired by several things; technological innovation, improving the environment, and people and their complexities.

A purpose-driven approach to investment  

 

For Nacho, playing his part in solving the global energy challenge gives his work at bp purpose. “I get really excited about the mission that we have today. We are not only reinventing bp, we are leading the entire energy sector on a path to a sustainable future”, he says.  

 

Whilst Nacho joined bp ventures in 2017, he doesn’t see a detachment between his previous and current role at bp. “I’m an engineer who’s used to solving problems and climate change is the biggest problem that we have to solve today”, he says. 

 

To contribute to the net zero transition, Nacho and his team invest in companies offering a range of low-carbon solutions, from fast-charging battery producers to forestry managers – many of which utilise advanced technologies such as AI. 

 

“bp recognises it doesn’t have all the answers. We are bringing the external innovation system inside bp. We need ideas and so we’re tapping into the market to understand what’s being developed and how it can help us accelerate the transition to net zero”, Nacho says. 

 

A diverse team, offering a diverse set of ideas 

 

In Nacho’s view, a diverse team of people is critical when generating ideas behind purposeful change. “We want the best people with the best ideas to join bp”, Nacho says, but he also stresses the breadth of skills and experiences that will drive the energy transition:

 

 

We want to reimagine energy. To do so, we are going to have to pool all of our resources, bringing together a wide array of ideas, experiences and approaches. We will need to have a diverse and inclusive team.

 

Although he recognises that there may be some challenges along the way, Nacho is excited about what the future holds. “There’re a lot of bright ideas and founders out there and picking the ones that can best help bp achieve its aims is not straight forward. We work closely with other bp teams to find and select our investments and I welcome anyone in bp raising good opportunities for investment”, he says.

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