bp and Infosys to Develop 'Energy as a Service' Solution for Campuses and Cities
BENGALURU, India, Oct. 28, 2021 /CNW/ -- bp, a global integrated energy company, and Infosys, (NSE: INFY) (BSE: INFY) (NYSE: INFY), a global leader in next-generation digital services and consulting, today announced that they have agreed to develop and pilot an energy as a service (EaaS) solution, which will aim to help businesses improve the energy efficiency of infrastructure, and help meet their decarbonization goals.
Infosys and bp intend to co-develop a digital platform that can collect data from multiple energy assets and use artificial intelligence to optimize the energy supply and demand for power, heat, cooling and EV charging. The companies will pilot the digital platform at the Infosys Pune Development Center – in an environment that replicates a small city, where energy is generated, stored, and consumed at multiple points. Once the pilot is successful, they will aim to roll this model out across other Infosys campuses in India, and with some clients, to help manage energy and help reduce emissions.
In addition, the companies have agreed to collaborate on integrating solar energy production into the campus' energy system. Energy that is generated through this integration will be monitored and optimized by the digital platform and can be stored or redirected to the building power supply, heating and cooling systems, and also to an EV charging infrastructure.
Sashi Mukundan, President, bp India and Senior Vice President, bp Group, said, "At bp, we set out to provide solutions to enable cities and hard to abate industries decarbonize. Integrating advances in energy, mobility and digital technologies and services has huge potential to accelerate the progress towards a more sustainable and resilient future. By bringing together our complementary capabilities, products, and services from bp's different joint ventures in India, bp and Infosys can help each other – and our customers – achieve energy and sustainability goals faster."
Pravin Rao, Chief Operating Officer, Infosys, said, "Infosys shares bp's ambitions for a net zero carbon future. Our collaboration with bp further strengthens our long-standing commitment towards sustainability and supports our ambitious ESG goals. We will now bring together the best of digital technologies – advanced AI, connected digital systems, experience design, analytics – and decarbonization to create an integrated energy and mobility offering. Together, bp and Infosys can create compelling and sustainable value for our customers globally."
bp in India
With a century-long business presence in India, bp is one of the largest integrated energy companies in the country. In addition to their gas value chain partnership, they have a major retail, aviation fuels and mobility alliance, Jio-bp. bp's activities in India also include Castrol lubricants, oil and gas trading, clean energy projects through its investment in the Green Growth Equity Fund (GGEF), IT applications and delivery activities, an AI enabled new global business services center and a digital innovation hub, staffing and training for the global bp marine fleet, and the recruitment of skilled Indian employees for bp's global businesses.
About Infosys
Infosys is a global leader in next-generation digital services and consulting. We enable clients in more than 50 countries to navigate their digital transformation. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer our clients through their digital journey. We do it by enabling the enterprise with an AI-powered core that helps prioritize the execution of change. We also empower the business with agile digital at scale to deliver unprecedented levels of performance and customer delight. Our always-on learning agenda drives their continuous improvement through building and transferring digital skills, expertise, and ideas from our innovation ecosystem.
Visit www.infosys.com to see how Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY) can help your enterprise navigate your next.
Safe Harbor
Certain statements in this release concerning our future growth prospects, financial expectations and plans for navigating the COVID-19 impact on our employees, clients and stakeholders are forward-looking statements intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding COVID-19 and the effects of government and other measures seeking to contain its spread, risks related to an economic downturn or recession in India, the United States and other countries around the world, changes in political, business, and economic conditions, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our industry and the outcome of pending litigation and government investigation. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2021. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.
SOURCE Infosys
Media contacts: bp: Mitali Sarkar, [email protected]; Infosys: Rishi Basu, [email protected]
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