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bp invests £4m in fleet optimization software provider Dynamon and announces commercial agreement

📅 Date:

🔖 Topics: Funding Event

🏢 Organizations: Dynamon, bp

bp ventures has made a £4 million investment in Dynamon, a UK-based software company that specializes in developing advanced data analytics and simulation tools for commercial transport and logistics companies. The funding forms part of Dynamon’s Series A round, being raised to fully commercialize and scale up its platform and expand its operations in Europe and into North America.

In a Dynamon 4,000-vehicle last mile trial, a customer using ZERO software identified a potential £22 million annual energy cost saving (£0.28/mile diesel vs £0.125/mile electric), and 8,700 tonnes annual CO2 saving (609.86 g CO2e/litre diesel) after the tool analysed the best solution for fleet electrification.

Read more at Business Wire

Eavor commences commercialization through major investment and landmark partnership with OMV

📅 Date:

🔖 Topics: Funding Event

🏢 Organizations: Eavor, OMV, BP

Eavor Technologies Inc. (“Eavor”), the leader in globally scalable geothermal closed-loop technology, has completed the first close of their Series B equity round. OMV AG (“OMV”) leads the round with a €34 million (C$50mm) investment and has entered into a commercial agreement with Eavor to pursue large-scale deployment of Eavor-Loop™ technology in Europe and beyond. Follow-on investments from Eavor’s existing partners include bp Ventures, Eversource Energy and Vickers Venture Partners. Concurrently with the raise, Chubu Electric Power has converted its debenture.

Read more at Globe Newswire