Energy major BP has announced that it will be investing some £50 million in a new research and development facility focused on technology for electric vehicles (EVs).
The new centre will be located within the headquarters of Castrol, BP’s lubricant division, at Pangbourne, Berkshire, and it will include an analytical lab. Once the facility is ready, which is expected in 2024, it will focus on fluid, battery and engineering technology for EVs, with it likely benefitting from the research into EV fluids and lubricants that already takes place at Castrol’s headquarters.
While the research will be mostly directed at enhancing battery technology for EVs, the new facility will also look at how similar technologies could benefit data centres, which often require substantial amounts of power.
In a statement, Castrol CEO Michelle Jou said about the new facility:
“This significant new investment will now allow us to build additional strategic technologies and capabilities to further advance EV fluids for the future. The facilities will also be an amazing showcase to demonstrate our integrated technology expertise to customers as we help drive the transition to EVs.”
BP’s Head of Country for the UK, Louise Kingham, reaffirmed BP’s commitment to the energy transition in the UK and said the new facility would help to develop solutions for decarbonising transport and speed up the transition to EVs.
BP has recently committed to investing some £18 billion in the energy system of the UK, with this comprising both new oil and gas projects to meet near-term energy needs and low-carbon projects for the energy transition.
