BP is exploring a sale of two of the businesses owned by its early-stage ventures arm in a transfer which might elevate tens of tens of millions of kilos.
Sky News has learnt that the FTSE 100 firm’s Launchpad division has begun contacting potential consumers of Lytt and Onyx Insight in latest weeks.
Lytt transforms massive quantities of information from sensors into actionable insights, which allows it to detect blockages in oil wells extra effectively.
Its expertise has been described as just like the music identification app Shazam.
Lytt, which launched in 2019, is a part of BP’s Launchpad arm, which has constructed various companies with potential purposes which prolong past the oil and fuel sector.
Sources stated BP was additionally trying to promote Onyx Insight, which serves the renewable power sector.
It has been owned by the group since 2017.
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The information comes days after BP reported quarterly income of £4bn, sparking renewed requires increased taxes on the sector.
Other firms within the BP Launchpad portfolio embrace Finite Carbon, STRYDE and Blueprint Power.
The firm has stated that Launchpad “will play an important role in bp’s ambition to become a net zero company by 2050 or sooner, and to help the world get to net zero”.
BP declined to touch upon the disposals.
Source: information.sky.com”