bp steps into EV electrification in the US

bp has acquired the Silicon Valley-based electric vehicle (EV) fleet charging and energy management provider Amply Power.

With a foothold in the growing EV charging business and the broader energy management arena in Europe, bp appears now to be turning its attention to the US.

In October bp acquired the US building flexibility developer Blueprint Power and has now followed with its first EV charging provider acquisition there, Amply Power.

According to a statement, the investment is aligned with bp’s plan to scale-up next generation mobility solutions, providing the fastest, most reliable and convenient network of charging and digital solutions for customers, including individual drivers and fleet operators.

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In practical terms bp aims to nearly double earnings from its global convenience and mobility businesses by 2030, with plans to grow its global network of EV charging points from around 11,000 today to more than 70,000.

“bp is aiming to speed up electrification in the fast-growing fleet segment, which is key to lowering emissions from the transport sector – the largest contributor to greenhouse gas emissions in the US,” says Richard Bartlett, senior vice president, future mobility and solutions.

“As we continue to invest in new forms of infrastructure and technology to serve our global fleet customers, Amply Power provides an ideal opportunity to build our EV business in the US. They bring an experienced team, a rapidly expanding customer base and a user-friendly digital platform.”

Amply Power, founded in 2018, has two offers for fleet operators – ‘Fully financed charging-as-a-service’ and for those who prefer to own their charging infrastructure ‘Customer-financed software-as-a-service’.

Amply Power’s OMEGA Charge Management System software is designed to help fleet operators manage energy costs and optimise performance by providing real-time monitoring of EV charging operations and preventative maintenance for both vehicles and chargers.

Vic Shao, founder and CEO of Amply Power, adds: “Now, with support and backing from bp, we can scale our approach to reach new markets while bringing our unique expertise to bp’s broader electric fleet initiatives.”

Under the terms of the agreement, Amply Power will continue to operate independently as part of bp’s global portfolio of businesses.