$5 million has been invested in mobile electric vehicle charging company for rapid charging units
BP has invested $5 million in a US-based manufacturer of mobile electric vehicle (EV) rapid charging systems, FreeWire Technologies Inc. (FreeWire), to launch FreeWire’s Mobi Charger units for use at selected BP fuel service stations in UK and Europe during 2018.
“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 TufanErginbilgic, chief executive, BP Downstream.
Erginbilgic added that by using FreeWire’s mobile system they can respond very quickly and provide charging facilities at fuel stations where they see the greatest demand without needing to make significant investments in today’s fixed technologies and infrastructure. The opportunity also to explore options for providing charging services away from their existing fuel service stations makes FreeWire an ideal partner for BP.
“We applaud BP’s commitment to providing a wide range of charging methods for its global customer base,” said Arcady Sosinov, CEO of FreeWire Technologies. “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. We are thrilled that BP, which is such a significant provider of transportation infrastructure, has acknowledged the promise of our solution through this investment and partnership.”
Through focusing on reducing its own operational emissions, improving its products to enable customers to lower their emissions and creating low carbon businesses, BP is committed to supporting the transition to a lower carbon economy. By identifying emerging trends and businesses, BP Ventures supports each of these areas, making strategic investments and testing technologies and solutions for their scalability.
“BP first worked with FreeWire through the RocketSpace Tech Mobility Accelerator, and we believe its mobile fast charging technology will be one of a number of fueling options that will be needed to address the future of lower carbon mobility,” said David Gilmour, vice president of BP Ventures.“We were encouraged by FreeWire’s expertise and their product. We are excited to be making this investment and to continue working with them, testing customer demand for the product and further developing the offering for the fast growing EV supply equipment market.” PWKD01022018
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