Bengaluru & Mumbai, India – Infosys (NYSE: INFY), a global leader in next-generation digital services and consulting and bp, a global integrated energy company, today announced that they have signed a memorandum of understanding (MoU) under which both companies intend to work together to develop an integrated Energy as-a-Service (EaaS) offering that will provide end-to-end management of a customers' energy assets and services.
Together, the companies intend to explore opportunities using bp’s energy and mobility expertise and Infosys' digital capabilities to manage energy assets, provide low carbon power, low carbon heating/cooling, and low carbon mobility to campuses, driven by an AI based digital platform. bp's integrated energy offer draws on technologies and businesses in solar and wind together with gas for power, fuels, electric vehicle charging, battery swapping and advanced mobility solutions.
The integrated Energy-as-a-Service solution aims to enable Infosys campuses to access reliable low carbon energy and mobility options, use energy more efficiently, and to optimize supply and demand across multiple users and assets, without having to invest in additional energy infrastructure.
Following a pilot at Infosys' Pune campus, the companies intend to extend the offer to other Infosys campuses and explore opportunities to manage energy and reduce emissions at industrial and business parks as well as cities.
Infosys achieved carbon neutrality in 2020 – 30 years ahead of the timeline set by the Paris Agreement. bp has an ambition to become a net zero company by 2050 or sooner and help the world get to net zero. Together both companies see potential in applying digital services to integrated energy solutions and help decarbonize corporations and cities.
Pravin Rao, Chief Operating Officer, Infosys, said, "Digitization will act as a driver for decarbonization and building work and living spaces of the future. With the present advancement in technology, we can create solutions that provide positive impulses, transparency, control, and enhanced decision-making. Infosys has had a long-standing commitment towards sustainability. We have crafted ambitious ESG goals for the next decade, continuing to focus on reducing emissions and co-creating solutions for a no/low carbon future. bp – our strategic partner for the last 16 years – shares our ambitions for a net zero carbon future and this partnership gives us a perfect opportunity to co-innovate and co-create the Integrated Energy and mobility offering leveraging Infosys digital prowess and bp’s expertise in sustainable energy solutions. Together we will strive towards a cleaner and greener future."
Sashi Mukundan, President, bp India and SVP bp group, said, "Integrated energy and mobility solutions have huge potential to enable clean cities powered by low carbon energy, and digital platforms are a vital component. We are excited to work with Infosys to explore how digitally-enabled integrated energy can deliver reliable, efficient and low carbon energy for Infosys campuses. Through this strategic collaboration bp and Infosys can combine our capabilities to manage energy for Infosys in India, and in time take this offer to other campuses, industrial parks and cities, to help the world decarbonise faster."
With a century-long business presence in India, bp is one of the largest international energy companies in the country. In addition to their gas value chain partnership, in 2020 bp and RIL also completed the formation of their major retail, aviation fuels and mobility alliance. bp’s activities in India also include Castrol lubricants, oil and gas trading, clean energy projects through Lightsource bp, IT back office activities, a new global business services center, staffing and training for the global bp marine fleet, and the recruitment of skilled Indian employees for bp’s global businesses.
Infosys is a global leader in next-generation digital services and consulting. We enable clients in 46 countries to navigate their digital transformation. With nearly four decades of experience in managing the systems and workings of global enterprises, we expertly steer our clients through their digital journey. We do it by enabling the enterprise with an AI-powered core that helps prioritize the execution of change. We also empower the business with agile digital at scale to deliver unprecedented levels of performance and customer delight. Our always-on learning agenda drives their continuous improvement through building and transferring digital skills, expertise, and ideas from our innovation ecosystem.
Visit www.infosys.com to see how Infosys (NYSE: INFY) can help your enterprise navigate your next.
Certain statements in this release concerning our future growth prospects, financial expectations and plans for navigating the COVID-19 impact on our employees, clients and stakeholders are forward-looking statements intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding COVID-19 and the effects of government and other measures seeking to contain its spread, risks related to an economic downturn or recession in India, the United States and other countries around the world, changes in political, business, and economic conditions, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our industry and the outcome of pending litigation and government investigation. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2020. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.