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BP plans to create five $1bn businesses focused on the circular economy and low-carbon technologies

GO DIGITAL OIL&GAS MIDDLE EAST

BP plans to create five $1bn businesses focused on the circular economy and low-carbon technologies

BP

BP subsidiary Launchpad aims to create five unicorns $1bn companies focused on the circular economy, and digital, low-carbon technologies by 2025, OilandGasMiddleEast.com reports.

The company plans to grow new businesses into large-scale entities that can work alongside its hydrocarbon divisions, with the aim of providing more energy with lower carbon emissions. The companies include Lytt, which develops subsurface analytics, and Stryde, which focuses on seismic technology.

BP is also developing a predictive wind energy infrastructure maintenance platform, as well as an app to help manage and offset carbon emissions.

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