bp acquires US start-up that turns buildings into ‘virtual power plants’

The New York-based firm uses bespoke algorithms to optimise the energy efficiency of buildings and connect them to power markets, using the buildings as flexible power assets to generate, store and trade renewable energy

The Big Zero report

Energy giant bp has bought US start-up Blueprint Power, whose technology can help turn commercial buildings into “virtual power plants”.

It uses bespoke algorithms to optimise the energy efficiency of buildings and connect them to power markets, using the buildings as flexible power assets to generate, store and trade renewable energy.

Commercial building owners will be able to sell surplus energy stored in batteries or power generated onsite from technologies such as solar panels.

Blueprint Power currently works with five of New York’s largest commercial real estate owners that together own more than 100 million square feet of property in the city and generate 13MW of renewable energy.

The company, which will join the bp Launchpad portfolio, will work with the energy giant to increase this to 36MW by the end of 2022.

Sam Skerry, SVP bp Launchpad & Ventures said: “Decarbonising dense urban areas is a key challenge as we work to play our part in realizing a net zero world. Blueprint’s technology can help deliver this critical transformation. It can help secure access to renewable energy and importantly, also create new business opportunities for many sectors. This is exactly the type of company bp wants to scale and scale fast through our bp Launchpad accelerator.”

Blueprint’s technology can help decarbonise commercial real estate and help owners meet their environmental goals while giving them access to new revenue streams.

Robyn Beavers, Blueprint’s Founder and CEO added: “Buildings hold huge untapped potential to improve energy resilience in an increasingly unpredictable world and to decarbonise our built environment.

“The time to grow and affect real change is now and as a bp Launchpad company, we will have the partnerships and opportunities to help buildings make a positive contribution to the energy transition.”

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