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Photo by Lance King/Getty Images

BP's venture arm announced Thursday that it led a Series A funding round for Grid Edge, a British software company that helps buildings control and cut their energy use.

Why it matters: It's the latest sign of how oil majors are boosting their investments in power technologies, EV charging and other areas outside their dominant fossil fuel lines.

The big picture: BP and Grid Edge said in their joint announcement that the startup's tech draws on data like weather forecasts and expected building occupancy to help customers tailor their energy needs.

  • It enables them to "leverage periods of high renewable power generation, and effectively use their building’s flexibility in energy demand and generation like a giant battery, to reduce costs and carbon emissions," per the statement.
  • The companies did not disclose the size of the investment.

Speaking of Big Oil and climate change, Reuters reports: "Royal Dutch Shell said on Thursday it would offset the carbon dioxide emissions of around 1.5 million road users in Britain starting later this month under a loyalty scheme."

Go deeper: U.S. could hit crude oil export milestone after Saudi attacks

Go deeper

Caitlin Owens, author of Vitals
2 hours ago - Health

Pfizer CEO feels "liberated" after taking COVID vaccine

Pfizer CEO Albert Bourla. Photo: "Axios on HBO"

Pfizer CEO Albert Bourla tells "Axios on HBO" that he recently received his first of two doses of the company's coronavirus vaccine.

Why it matters: Bourla told CNBC in December that company polling found that one of the most effective ways to increase confidence in the vaccine was to have the CEO take it.

Dan Primack, author of Pro Rata
2 hours ago - Economy & Business

Ripple CEO: SEC lawsuit is "bad for crypto" in the U.S.

Ripple CEO Brad Garlinghouse tells "Axios on HBO" that if his company loses a lawsuit brought by U.S. regulators, it would put the country at a competitive disadvantage when it comes to cryptocurrencies.

Between the lines: The SEC in December sued Ripple, and Garlinghouse personally, for allegedly selling over $1.3 billion in unregistered securities. Ripple's response is that its cryptocurrency, called XRP, didn't require registration because it's an asset rather than a security.

Caitlin Owens, author of Vitals
2 hours ago - Health

Pfizer CEO: "It will be terrible" if COVID-19 vaccine prices limit access

Pfizer CEO Albert Bourla told "Axios on HBO" that it "will be terrible for society" if the price of coronavirus vaccines ever prohibits some people from taking them.

Why it matters: Widespread uptake of the vaccine — which might require annual booster shots — will reduce the risk of the virus continuing to spread and mutate, but it's unclear who will pay for future shots or how much they'll cost.