In bp, we have an established and growing alternative energy business, with a significant portfolio across renewable fuels, power and products. And we are developing new business models in areas such as low carbon power and digital energy.
We have set targets and aims to reduce emissions in our operations, improve our products to help customers reduce their emissions and create low carbon businesses.
To help grow our digital energy portfolio, we have invested in Grid Edge, an energy management company. Its technology helps customers predict, control and optimize a building’s energy profile.
Grid Edge can help customers lower carbon emissions by 10-15% on average.
The cloud-based software can anticipate a building’s energy demand using data such as weather forecasts and expected occupancy.
bp has formed a 50:50 joint venture in Brazil with leading agri-commodities company Bunge Limited. The deal expands our existing biofuels business by more than 50%.
BP Bunge Bioenergia is now the second-largest operator by effective crushing capacity in the country’s bioethanol market.
Brazil is the world’s second-largest market for ethanol as a transportation fuel, with around 75% of the country’s vehicles able to run on it.
Demand for ethanol is growing rapidly in the country. In 2019 demand increased 10% versus 2018 and is set to increase up to 55% by 2030.