bp ventures has made a $20 million AUD (£11m) investment in 5B Holdings Pty, an Australian renewable company.

5B’s leading solar technology, the 5B Maverick, will enable rapid deployment of solar power at scale.

It consists of up to 90 solar panels mounted on specially designed frames that can be unfolded and installed at speed.

Johnathan Stone, Principal at bp ventures said: “5B’s innovative solar technology can deliver low-cost power generation at speed, helping to meet rising electricity demand.

“This deal is a fantastic example of bp investing in a business that will support our renewable energy transition growth engine. And is another strand of our multi-energy vector country strategy that will support the decarbonisation of energy in Australia.”

Article source: https://www.energylivenews.com/2022/12/20/bp-invests-20m-aud-in-solar-technology/