Europe: BP to add EV charges at sites after $5 million investment

BP Ventures invests $5 million in FreeWire, manufacturer of mobile rapid charging systems for electric vehicles.

BP announced yesterday that its venturing business has invested $5 million in FreeWire Technologies Inc. (FreeWire), a US-based manufacturer of mobile electric vehicle (EV) rapid charging systems, and plans to roll out FreeWire’s Mobi Charger units for use at selected BP retail sites in the UK and Europe during 2018.

“Mobility is changing and BP is committed to remaining the fuel retailer of choice into the future. EV charging will undoubtedly become an important part of our business, but customer demand and the technologies available are still evolving,” says Tufan Erginbilgic, chief executive, BP Downstream.

FreeWire’s mobile system would allow BO to respond quickly and provide charging facilities at forecourts. The technology company is based in the San Francisco Bay Area and specializes in mobile and networked energy storage.

“We are thrilled that BP, which is such a significant provider of transportation infrastructure, has acknowledged the promise of our solution through this investment and partnership,” said Arcady Sosinov, CEO of FreeWire Technologies.

The investment in FreeWire is an example of how BP Ventures, which focuses on emerging trends, is working alongside BP’s downstream business.