BP Ventures has announced a £4million investment in Dynamon, a developer of data analytics and simulation tools for commercial transport and logistics companies. 

Dynamon’s products are designed to help businesses decarbonise their fleets cost-effectively.

Its flagship software Zero is said to help develop solutions that could save energy and capital investment costs, including calculating the best options for adoption through planning for vehicles, charging infrastructure, energy costs, and operations analysis.

Dynamon services can also be used by existing EV fleets to improve efficiency.  

BP Ventures vice president Gareth Burns 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.”

Dynamon CEO Angus Webb (pictured) 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.

“Alongside the investment, Dynamon and BP have signed a commercial agreement to utilise Zero, or similar tools. Working together will help bp pulse to diversify its fleet proposition and further develop its premium customer offer, providing customers with support as they increasingly look to adopt EV solutions.”