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BP PLC on Thursday said it is investing in Dynamon, signing a commercial agreement for the latter to optimise lower emission solutions for fleets.
The London-based oil major said it made a £4 million investment in Dynamon, which is a UK-based fleet optimisation software provider.
‘The funding forms part of Dynamon’s Series A round, being raised to fully commercialize and scale up its platform and expand its operations in Europe and into North America,’ BP said.
Further, BP and Dynamon signed a commercial agreement for Dynamon to optimise lower emission solutions for fleets and develop a premium offer for customers.
BP shares were 0.5% higher at 480.20 pence each on Friday afternoon in London.
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