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BP Invest £4m in Dynamon’s fleet optimization software

January 10, 2024

BP has entered into a commercial agreement with Dynamon, a provider of fleet optimization software, to develop lower-emission solutions.

Dynamon specializes in advanced data analytics and simulation tools for commercial transport and logistics companies. The company’s software and analysis tools are used in many countries to help businesses understand actions they can take to decarbonize their fleets cost-effectively.

BP Ventures has invested £4 million in Dynamon as part of the software company’s Series A funding round. The investment will be used to fully commercialize and scale up Dynamon’s platform and expand its operations in Europe and North America.

Dynamon’s flagship software, ZERO, develops solutions that could save energy and capital investment costs. It calculates the best options for adoption through planning for vehicles, charging infrastructure, energy costs, and operations analysis. In a 4,000-vehicle last mile trial, a customer using ZERO software identified a potential £22 million annual energy cost saving and 8,700 tonnes annual CO2 saving after the tool analyzed the best solution for fleet electrification.

Recent BP industry research shows that nearly half of UK fleet managers (43%) and fleet drivers (41%) think they’ll begin introducing EVs to their fleets within the next two years. Dynamon’s tools can also be utilized by existing EV fleets to get the most out of their operations, address cost management, support operational reliability, and gain a deeper understanding of battery degradation through data analytics that present the best options for their operational needs.

BP is planning to invest more into its five transition growth engines, one of which is EV charging, while at the same time investing in today’s energy system, as it delivers its strategy of becoming an integrated energy company.

Gareth Burns, Vice President of BP Ventures, said: “Faster adoption of lower carbon energy and mobility solutions will help drive BP towards meeting its ambition to become a net zero company by 2050 or sooner and helping the world get to net zero. We’re very excited to be investing in Dynamon, an EV fleet software business deploying software as a service and data science to help the commercial transport industry transition to lower carbon energy fleets.”

Angus Webb, CEO of Dynamon, said: “It is our mission to bring the most advanced fleet optimization tools to the transport industry. This is becoming increasingly critical with the transition to electric vehicles requiring both fleets and suppliers to perform complex analysis to ensure that solutions will be robust and cost effective. We are delighted to be partnering with BP to deliver our software tools to fleets. With a strong heritage in engineering and technology and servicing fleets globally, BP is a perfect partner for Dynamon’s growth.”

Stefan von Dobschüetz, General Manager for BP Pulse Europe, added: “As fleets electrify, the commercial transport and logistics industry faces challenges balancing cost management, operational reliability, while understanding new vehicle technology. Dynamon’s simulation and data analytics tools offer those companies unique fleet-specific insights to help identify the optimum EVs and charging infrastructure to replace existing combustion engine vehicles. This agreement between BP and Dynamon makes the tools available to our BP pulse customers and provides a range of options and solutions to effectively manage and enhance their EV fleet.”