BP is to invest $500,000 (£357,000) in a US-based clean energy consortium which supports start-ups and entrepreneurs in the sector globally.
The energy giant says the work with Incubatenergy Network will support its goals of developing new solutions for a lower-carbon future.
Members of the network collectively have advanced the development of around 500 clean energy start-ups.
Meghan Sharp, managing director Americas, BP Ventures, said: “BP intends to play our part in meeting the dual challenge of delivering the energy the world needs and transitioning to a lower-carbon future.
“We’re building low carbon into what we do, across our businesses – and in ways that will generate value over the long-term.
“This strategic relationship will enable BP Ventures to engage with entrepreneurs across the energy spectrum who are developing new businesses that have the potential to support this.”
The Incubatenergy Network was established by a group of organisations including the U.S Department of Energy.
The deal will see BP collaborate with groups in the network including Prospect Silicon Valley, ACRE in New York and the Austin Technology Incubator,
BP will also meet with the network twice a year with the broader network to discuss priorities.
