BP Ventures, a subsidiary of BP has invested $5 million in FreeWire Technologies, to trial the company’s Mobi Charger units for use at selected BP retail sites in the UK and Europe, this year.
FreeWire is a US-based manufacturer of mobile electric vehicle (EV) rapid charging systems.
The British multinational oil and gas company has assured it is committed to supporting the transition to a lower carbon economy through focusing on reducing its own operational emissions, improving its products to enable customers to lower their emissions and create low carbon businesses.
“Mobility is changing and BP is committed to remaining the fuel retailer of choice into the future. EV charging will undoubtedly become an important part of our business, but customer demand and the technologies available are still evolving,” said Tufan Erginbilgic, chief executive, BP Downstream.
Also commenting on the development, Arcady Sosinov, CEO of FreeWire Technologies said: “The Mobi Charger can be quickly and cost effectively scaled across vast transportation networks — flexibility that delivers benefits all along the EV charging value chain.”
EV chargers taking centre stage
At the recently concluded World Economic Forum annual meeting in Davos, fast charging for EVs were among the central topics on the agenda, recognising them as an integral part of the transport ecosystem.
According to Sky News, the Newcastle University is currently trialing the possibility of EV chargers returning power to the electricity grid network.
The bi-directional power flow will allow owners to charge their vehicles during times of low demand, and feed power back to the grid at times of high demand.
This will enable car owners to make money from their vehicles by selling services back to the energy network.
This is the first large-scale vehicle-to-grid technology trial to take place anywhere in the world.
Featured image: Stock