This is the first BP Venture investment in the field of artificial intelligence (AI) technology in China. R&B's energy management systems are designed to predict, control and improve a building’s energy use, supporting BP Alternative Energy’s focus on low-carbon power, storage and digital energy value chain.
Pinsent Masons advised BP throughout the lifecycle of the deal, from due diligence to the drafting, reviewing and negotiation of investment transaction documentation as well as completion.
Wei Liu, Corporate Transaction Services partner of Pinsent Masons said, "Energy saving and emission reduction become a reality when AI, energy and capital are combined together. This is a project with unlimited potential and high social value. We're proud to have participated in and contributed to the project of BP's investment in R&B."
BP’s investment in R&B was supported by a cross-office team of Pinsent Masons, with involvement across the Shanghai and Hong Kong offices. The team included lead partner Wei Liu, legal director Michael Lin and Junior counsel Xiaowen Jiang, and legal director Norman Leung.