New Delhi: British multinational oil and gas firm BP today announced its venture capital arm BP Ventures has invested Pounds 1.5 million in energy monitoring company Voltaware in line with BP Alternative Energy’s strategy in low-carbon power, storage and digital energy.The company said BP Alternative Energy is exploring the impact of digitisation on the energy sector and how innovative technology will shape the way that energy is consumed and managed by businesses and individuals. The company called sensors such as those provided by Voltaware an example of emerging digitally-enabled innovations.
"Enabled by digital technologies such as those provided by Voltaware, we can be more efficient in the generation of electricity and how that power can be monitored, moved, sold, traded and stored," said Dev Sanyal, chief executive of BP Alternative Energy.
Voltaware has developed an internet-enabled energy monitoring device that allows business and residential users to optimize their energy consumption, breaking the data to the level of demand from individual appliances, and manage their electricity use. The device also allows companies to track the performance of individual machinery.