Energy giant bp announced today an investment of £4 million (USD$5 million) in fleet decarbonization solutions startup Dynamon, alongside an agreement to collaborate with the company on optimizing EV fleets and developing a premium offer for customers.
Founded in 2015, Southampton-based Dynamon provides fleet management solutions for fleets, OEMs, charging infrastructure providers, vehicle leasing operators and telematics companies, aimed at accelerating the transition to electric vehiicles, reducing operational costs and improving fleet efficiency. The company’s flagship software solution ZERO uses advanced predictive analytics to provide fleet managers with insights for EV transition planning, optimal EV selection, grid and charging infrastructure design and implementation, cost analysis, electricity pricing plans and public charging infrastructure analysis.
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.”
According to bp, the funding, part of Dynamo’s Series A round, will be used to expand and commercialize Dynamon’s platform and operations in Europe and into North America.
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.”