BP Ventures Invests $5 Million in FreeWire

BP Ventures has invested $5 million in San Francisco Bay Area-headquartered FreeWire Technologies Inc., manufacturers of mobile electric vehicle rapid charging systems, and plans to roll out FreeWire’s Mobi Charger units for use at selected BP retail sites in the UK and Europe during 2018.
BP Ventures Invests $5 Million in FreeWire

FreeWire’s Mobi Charger Series is the first ever, mobile electric vehicles charging station. Mobi Chargers offer similar electric vehicle charging speeds as traditional fixed stations; all while completely disconnected from the grid. 

Tufan Erginbilgic, chief executive, BP Downstream, said, “Using FreeWire’s mobile system we can respond very quickly and provide charging facilities at forecourts where we see the greatest demand without needing to make significant investments in today’s fixed technologies and infrastructure.”

“The Mobi Charger can be quickly and cost effectively scaled across vast transportation networks — flexibility that delivers benefits all along the EV charging value chain,” said Arcady Sosinov, CEO of FreeWire Technologies.

BP Ventures identifies emerging trends and businesses, making strategic investments and testing technologies and solutions for their scalability. The investment in FreeWire is an example of how BP Ventures is working alongside BP’s Downstream business.

David Gilmour, vice president of BP Ventures, concluded, “We are excited to be making this investment and to continue working with FreeWire, testing customer demand for the product and further developing the offering for the fast growing EV supply equipment market.”

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