BP Ventures has stepped into the artificial intelligence (AI) sector in China, leading an investment round in an AI energy management specialist.
The $3.6 million (£2.7m) backing in R&B is intended to support BP Alternative Energy’s focus on low carbon power, storage, digital energy value chain and wider Energy as a Service (EaaS) offers.
R&B’s energy management systems are designed to predict, control and improve a building’s energy use – its Software-as-a-Service (SaaS) applies AI techniques to energy diagnostics and optimisation in the commercial and industrial (C&I) sector.
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