MOSCOW (MRC) -- bp took its first major step into electrification in the US with the acquisition of AMPLY Power, an electric vehicle (EV) charging and energy management provider for fleets that operate trucks, transit and school buses, vans and light-duty vehicles, according to Hydrocarbonprocessing.
This investment is aligned with bp’s plan to scale-up next generation mobility solutions, providing the fastest, most reliable and convenient network of?charging and digital solutions?for customers, including individual drivers and fleet operators.
By 2030, bp aims to nearly double earnings1 from its global convenience and mobility businesses - increasing from around $5 B in 2019 - while delivering returns in the range of 15-20%. During this time, bp plans to grow its global network of EV charging points from around 11,000 today to more than 70,000.
Richard Bartlett, senior vice president, future mobility and solutions, bp: “bp is aiming to speed up electrification in the fast-growing fleet segment, which is key to lowering emissions from the transport sector - the largest contributor to greenhouse gas emissions in the US. As we continue to invest in new forms of infrastructure and technology to serve our global fleet customers, AMPLY Power provides an ideal opportunity to build our EV business in the US. They bring an experienced team, a rapidly expanding customer base and user-friendly digital platform.”
Founded in 2018, AMPLY Power aims to make EV adoption easy for fleets. The California-based firm has two offers for fleet operators:
Fully financed Charging-as-a-Service (CaaS) – AMPLY Power provides solutions for the charging of customers’ fleets, including the procurement and installation of hardware, software and operational and maintenance costs. Customers sign 5-to-10 year agreements for these services and AMPLY Power charges customers a flat usage rate ($/kWh or $ per mile driven).
Under the terms of the agreement, AMPLY Power will continue to operate independently as part of bp’s global portfolio of businesses.
Financial details of the agreement are not being disclosed.
As MRC wrote previously, in October, 2021, BP announced plans for a USD269 million investment in three projects at its Cherry Point Refinery in Washington state, aimed at improving the refinery's efficiency, reducing its carbon dioxide (CO2) emissions and increasing its renewable diesel production capability. The investment is aligned with bp's aims to be net zero across its operations by 2050 or sooner and to reduce the carbon intensity of the products it sells by 50% by 2050 or sooner.
Ethylene and propylene are the main feedstocks for the production of polyethylene (PE) and polypropylene (PP), respectively.
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,868,160 tonnes in the first nine months of 2021, up by 18% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 1,138,510 tonnes in January-September 2021, up by 30% year on year. Supply of propylene homopolymer (homopolymer PP) and block-copolymers of propylene (PP block copolymers) increased, whereas supply of injection moulding statistical copolymers of propylene (PP random copolymers) decreased significantly.
BP is one of the world's largest oil and gas companies, serving millions of customers every day in around 80 countries, and employing around 85,000 people. BP's business segments are Upstream (oil and gas exploration & production), and Downstream (refining & marketing). Through these activities, BP provides fuel for transportation; energy for heat and light; services for motorists; and petrochemicals products for plastics, textiles and food packaging. It has strong positions in many of the world"s hydrocarbon basins and strong market positions in key economies.
MRC