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Photo: Lance King/Getty Images

BP said Thursday that it acquired New York City-based Blueprint Power, a startup that helps turn buildings into "flexible power assets" that lower the carbon footprint of commercial real estate.

Why it matters: Big buildings are a major source of energy demand that's ripe for the application of cleaner tech.

  • The deal for the three-year-old startup, the terms of which were not disclosed, is BP's latest move in its diversification into low-carbon spaces, even as oil and gas remain its dominant business lines for now.

How it works: Blueprint offers data services and algorithms aimed at increasing the commercial incentive for building owners to get greener via renewables, efficiency and storage by creating new revenue streams.

  • Its products help "maximize onsite renewable generation, store energy when the carbon intensity of the grid is at its lowest, and use or trade energy when it’s not," the company said.
  • Blueprint, per the announcement, already works with five of New York City's largest real estate owners that generate 13 megawatts of renewable power.

What's next: BP and Blueprint hope to roughly triple this amount by the end of next year. The company is being brought under Launchpad, which is BP's internal tech company accelerator.

The idea is for Blueprint to expand into "several major US urban power markets."

Go deeper

Ben Geman, author of Generate
Jan 13, 2022 - Energy & Environment

Battery startup QuantumScape's new move

Photo Illustration: Pavlo Gonchar via Getty Images

The energy storage heavyweight Fluence and the solid-state battery startup QuantumScape Thursday morning announced a multiyear agreement to test and deploy QuantumScape lithium-metal tech in stationary applications.

Why it matters: Storage growth is important to enabling high levels of renewables penetration and also helps aid grid reliability. Solid-state battery tech holds the promise of higher energy density and other benefits.

Ben Geman, author of Generate
Jan 13, 2022 - Energy & Environment

Congress to take a look at crypto's carbon footprint

Illustration: Shoshana Gordon/Axios

A powerful House committee next week will convene a hearing on the energy use of digital cryptocurrency mining.

Why it matters: The Jan. 20 Energy and Commerce Committee hearing highlights growing concern about carbon emissions linked to bitcoin and other currencies, even as the sector vows to get greener.

Republican-led Pennsylvania court deems mail-in voting law unconstitutional

Workers count ballots for the 2020 Presidential election at the Philadelphia Convention Center in Philadelphia, Pennsylvania, U.S., on Nov. 3, 2020. Photo: Hannah Yoon/Bloomberg via Getty Images

A Republican-led Pennsylvania court on Friday ruled that the state's mail-in voting law is unconstitutional.

Driving the news: Three Republican judges sided with Republican challengers and ruled that no-excuse mail-in voting is prohibited under the state's constitution. Two Democrats on the panel dissented.