bp ventures has made a £4 million investment in Dynamon, which provides software for commercial transport and logistics companies. The two firms have also entered into a partnership which will see Dynamon’s simulation and data analytics tools made available to bp pulse customers to help them to effectively manage their EV fleets.
Dynamon says that in a 4,000-vehicle last mile trial, a customer using ZERO, Dynamon’s flagship 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.
The funding forms part of Dynamon’s Series A round, being raised to fully commercialise and scale up the UK-based firm's platform and expand its operations in Europe and into North America.
“Faster adoption of lower carbon energy and mobility solutions will help drive bp towards meeting its ambition to become a net zero company by 2050 or sooner and helping the world get to net zero. We’re very excited to be investing in Dynamon, an EV fleet software business deploying software as a service and data science to help the commercial transport industry transition to lower carbon energy fleets,” says Gareth Burns, Vice President of bp ventures.
“Alongside the investment, Dynamon and bp have signed a commercial agreement to utilise ZERO, or similar tools. Working together will help bp pulse to diversify its fleet proposition and further develop its premium customer offer, providing customers with support as they increasingly look to adopt EV solutions," says Angus Webb, CEO of Dynamon.
bp says it is planning to invest more into its five transition growth engines, one of which is EV charging, while at the same time investing in today’s energy system, as it delivers its strategy of becoming an integrated energy company.