BP will buy one of the UK’s largest EV charging providers. Chargemaster runs aboout 6,500 stations in their Polar network. They did not disclose any details but the new company will be called BP Chargemaster and plans on setting up more fast-charging stations at pit stops.
The acquisition follows a string of deals that see the petrochemical company buying into green technologies and BP say they will spend 500 million dollar a year on clean energy.
How much of that money has fallen to Chargemaster is unknown but BP plan to use their technology to roll out ultra-fast chargers (150 kW) across its 1,200 petrol stations across the UK over the next 12 months.
Upon completion of the transaction, Chargemaster employees will continue to be employed by BP Chargemaster or its subsidiaries. BP Chargemaster will operate as a wholly-owned BP entity.
BP had decided to invest in batteries and charging infrastructure in August 2017 when CEO Bob Dudley announced that it was feasible to add EV charging stations at BP pit stops around the world. BP also invested 5 million dollars in FreeWire Technologies earlier this year, which produces mobile fast charging systems for EVs. BP is planning on also testing their Mobi Charger at selected locations in Europe.