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BP Buys NYC Startup That Turns Skyscrapers Into Power Plants

  • Value of deal for Blueprint Power technology firm undisclosed
  • Software helps buildings sell energy produced onsite to grid
Hoboken Is a Hit With NYC-Area Homebuyers Shut Out of Suburbs
Photographer: Gabby Jones/Bloomberg

BP Plc acquired Blueprint Power, a New York-based technology startup that helps commercial buildings sell their surplus energy to the grid, for an undisclosed sum.

European energy majors are increasingly turning to power as a way to diversify their hydrocarbon-heavy portfolios into cleaner sources of energy. Beyond much larger investments in solar and wind farms, BP is making smaller bets on technology companies with an energy transition slant through its venture capital unit and its startup accelerator Launchpad.