Energy giant BP has invested £4m into fleet optimisation software firm Dynamon, who provide data analytics and simulation software tools to the transport sector.
The £4 million investment from bp ventures into Dynamon forms part of it’s Series A round, being raised to fully commercialise and scale-up its platform and expand its operations in Europe and into North America.
Its software and analysis tools help businesses understand the various options to decarbonise their fleets cost-effectively, improving research and trial time. The ZERO software also develops solutions that could save energy and capital investment costs, including calculating the best options for adoption through planning for vehicles, charging infrastructure, energy costs, and operations analysis.
In a Dynamon 4,000-vehicle last-mile trial, a customer using ZERO software identified a potential £22m annual energy cost saving, and 8,700 tonnes annual CO2 saving after the tool analysed the best solution for fleet electrification.
Gareth Burns, Vice President of bp ventures, said: “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.”
Angus Webb, CEO of Dynamon, said: “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.”
Stefan von Dobschüetz, General Manager for bp pulse Europe, added: “Dynamon’s simulation and data analytics tools offer those companies unique fleet-specific insights to help identify the optimum EVs and charging infrastructure to replace existing combustion engine vehicles. This agreement between bp and Dynamon makes the tools available to our bp pulse customers and provides a range of options and solutions to effectively manage and enhance their EV fleet.”
Image of Angus Webb courtesy of bp ventures