BP invests in Dynamon for greener logistics solutions
photo courtesy of bp

BP invests in Dynamon for greener logistics solutions

British energy major bp has invested GBP4 million (USD5.1 million) in Dynamon, a UK-based software firm specialising in advanced data analytics and simulation tools for the commercial transport and logistics sector. This investment forms part of Dynamon’s Series A funding round, aimed at commercialising and scaling up its platform, and expanding its operations in Europe and North America.

Dynamon’s software tools assist transport and logistics companies in adopting low carbon energy solutions, such as electric vehicle (EV) charging infrastructure. bp has also signed a commercial agreement with Dynamon to optimise lower emission solutions for fleets.

With an increasing variety of EVs and charging infrastructure options, researching and trialling every possible solution can be time-consuming and expensive. Dynamon’s software and analysis tools, deployed globally, help businesses understand cost-effective ways to decarbonise their fleets.

Dynamon’s flagship software, ZERO, calculates the best options for fleet electrification, considering vehicles, charging infrastructure, energy costs, and operations analysis. In a trial involving 4,000 vehicles, a customer using ZERO identified potential annual energy cost savings of GBP22 million (USD28.06 million) and an annual CO2 saving of 8,700 tonnes.

The transition to decarbonise and optimise fleet operations presents challenges for global logistics and transport companies. However, recent bp industry research indicates that nearly half of UK fleet managers and drivers plan to introduce EVs to their fleets within the next two years.

This investment aligns with bp’s ambition to become a net-zero company by 2050 or sooner. The partnership with Dynamon will help the commercial transport industry transition to lower carbon energy fleets.