Part of bp Launchpad

Fotech is Part of the bp Launchpad Portfolio

bp Launchpad is on a mission to generate sustainable change in energy by building large-scale businesses that specialise in digital, low-carbon technologies, and the circular economy.

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“It is rooted in our purpose to reimagine energy for people and our planet. Our ambition to become a net zero company by 2050 or sooner and to help the world get to net zero. And in our core beliefs about the energy transition.” Bernard Looney, CEO, bp.

bp Launchpad invested in Fotech because of their market-leading capabilities in the opto-electronic market, specifically in DAS technology. This not only reinforced Lytt’s (a complementary Launchpad portfolio company) oil and gas analytics capabilities, but also offered diversification into other non-core bp markets such as infrastructure, security, transport, and smart cities. Fotech’s solutions have the proven capacity to reduce risk, increase efficiencies, and minimise the carbon-footprint of certain industries.

“We hope to give life to new technologies that could eventually be global in scale, spun off into their own entities but still owned by BP. With all the changes taking place in the energy business, one can rapidly come to the conclusion that the future of the industry doesn't look like the past." Stephen Cook, Managing Partner, bp Launchpad.

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