BP buys Irish tech startup Ubiworx as 'smart home' battle hots up
Summary
The acquisition secures the group’s plans to implement a global roll-out of its energy systems following a £150m investment from oil major BP late last year.Kareen Boutonnat, chief operating officer of Lightsource BP, told The Sunday Telegraph that the UK is at the forefront of regulatory developments which could mean “we are not far off” customers earning money by switching their energy use from the grid to their car and solar batteries when demand is high.In a major vote of confidence for the booming home energy space, BP bought a 43pc stake in Lightsource late last year for £150m.The Ubiworx deal will also give Lightsource BP access to systems which are used by large industrial users, opening a wider market to the energy-tech company, she added.Ms Boutonnat added: “More connected, intelligent, efficient and sustainable energy systems will turn ordinary homes into ‘self-learning smart homes’.”