NOT YET GREEN CAPITALI$M
BP Extends Ties With Palantir Heading Towards Zero-Emission, Clean Energy Company
Anusuya Lahiri
Palantir Technologies Inc. (NYSE: PLTR) and BP plc (NYSE: BP) extended their partnership to help BP become a zero-emission and clean energy company by 2050.
The move is especially relevant to President Biden’s heightened focus on zero-emission and clean energy.
Palantir will provide BP with its software for global deployment across the organization under a multi-million dollar deal spanning several years.
Palantir and BP’s partnership dates back to 2014, with Palantir’s software being a vital catalyst in BP’s digital transformation.
BP will use Palantir’s Foundry software for five more years in newer zones towards its digitization objectives and energy transition goals.
BP’s digital twin applications, powered by Palantir, have led to a significant boost to the hydrocarbon-based workflows.
Further opportunities remain for BP’s new ambition, wind farm optimization, electric charging networks, solar generation, including its zero-emission aims.
The collaboration has produced tangible results in operations management, asset allocation, strategic planning, and procurement.
Palantir platform and associated applications will continue to be used to drive value in production, operations, simulation, and modeling.
Price action: PLTR shares are trading higher by 0.78% at $32.23, and BP shares are up 0.02% at $20.99 on the last check Friday.
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