1. Home
  2. What we do
  3. Transition Growth Engines

Transition Growth Engines

Transforming bp. Supporting the global energy transition.

A worker wearing protective equipment at an Archaea Energy plant
Globally bp’s five transition growth engines – bioenergy, convenience, electric vehicle charging, hydrogen, and renewables and power – generated $1 billion EBITDA in 2023. We have a target to generate $3-4 billion EBITDA by 2025. 

Our five transition growth engines

Bioenergy

 

After purchasing Archaea Energy for $4.1 billion in 2022, bp is now the largest producer of renewable natural gas (RNG) in the US. In 2023, bp’s global biogas supply volumes were up 80% year-on-year, reflecting the Archaea uplift. Biofuels production globally was up by 18%.

Convenience

bp’s US brands – including ARCO/ampm, Amoco, Thorntons and TravelCenters of America – serve more than three million customers daily at over 8,000 retail sites across the US.
A woman fills up her car at a Thorntons station
Electric vehicle charging

bp pulse’s EV charging network strategy in the US includes building large-scale ultra-fast charging hubs, called Gigahubs, near airports and major metropolitan areas.
A woman charges her a red sedan at a bp pulse charging station
Hydrogen

 

In October 2023, bp and the Midwest Alliance for Clean Hydrogen – the MachH2 coalition – announced their selection by the US Department of Energy for regional clean hydrogen hub funding. bp is looking to develop blue hydrogen production at or near bp’s Whiting, Indiana refinery. 

A tanker truck drives on a highway
Renewables & power

From carbon capture & storage, to solar to wind, we’re in action in the US – from the Northeast to the Southwest, from the Gulf Coast to the Great Lakes. Globally, bp had a 58.3GW renewables pipeline in 2023.
Three wind turbines behind a row of solar panels producing renewable energy

Learn more