bp ventures, the corporate venture capital arm of oil giant bp, has made a £4 million investment in Dynamon, a UK-based software company specialising in advanced data analytics and simulation tools for commercial transport and logistics companies. This funding is part of Dynamon’s Series A round, aimed at fully commercialising and expanding its platform operations in Europe and North America.
Dynamon’s software tools offer valuable support to transport and logistics companies in adopting low carbon energy solutions, such as electric vehicle (EV) charging infrastructure, as they work to electrify their fleets. With an increasing range of EVs and charging options, researching and trialing each solution can be time-consuming and costly. Dynamon’s analytics and simulation tools, deployed in various countries, assist businesses in understanding cost-effective decarbonisation strategies for their fleets.
Among Dynamon’s flagship software solution, ZERO, helps companies save energy and capital investment costs by calculating the best options for fleet electrification. For instance, in a 4,000-vehicle last mile trial, a customer using ZERO software identified potential annual energy cost savings of £22 million and 8,700 tonnes of annual CO2 savings after analysing the best fleet electrification solution.
The global logistics and transport industries face significant challenges in transitioning to decarbonise fleet operations, placing pressures on procurement departments tasked with electrifying large-scale fleets cost-effectively. Recent industry research by bp indicates nearly half of UK fleet managers (43%) and fleet drivers (41%) plan to introduce EVs to their fleets within the next two years.
Angus Webb, CEO of Dynamon, highlighted the company’s mission to provide advanced fleet optimisation tools to the transport industry. The transition to electric vehicles necessitates complex analysis to ensure robust and cost-effective solutions, and the partnership with bp will enable Dynamon to deliver its software tools to fleets more effectively, he says.
In addition to the investment, Dynamon and bp have signed a commercial agreement to utilise ZERO and similar tools. This collaboration will help bp pulse, bp’s EV charging unit, diversify its fleet proposition and enhance its premium customer offer, supporting customers’ increasing adoption of EV solutions. Dynamon’s tools can also be utilised by existing EV fleets to optimise operations, manage costs, enhance operational reliability, and gain insights into battery degradation through data analytics, presenting the best options for their operational needs.