BP Closes Venture Arm After 20 Years | Tech News

BP is shutting down its 20-year-old venture arm, BP Ventures, selling off most of its portfolio—including over a dozen clean tech startups—to private equity firm Verdane. Once focused on green hydrogen, EVs, and autonomous tech to lead the energy transition, BP is now pivoting inward, keeping only select investments that align with its core business. The sale, expected to close by Q2 2027, signals a major retreat from venture capital and innovation, with likely layoffs for BP Ventures’ team. It’s the end of an era for BP’s bold bets on the future of energy. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/8a5a63a4aea4c4bc