BP hires Equinor exec to lead venture capital business

LONDON, Jan 11 (Reuters) – BP (BP.L) has appointed Gareth Burns to lead its global venture capital arm, which oversees the company’s investments in start-up technologies as part of its transition to low-carbon energy. part.

Burns joins from Norwegian rival Equinor (EQNR.OL), where he set up and led its energy risk business since 2016, BP said in a statement.

According to its website, BP’s venture capital business has invested $1 billion in 70 companies and is actively managing 30 of them. Businesses range from unmanned aerial vehicles to geospatial analysis software and artificial intelligence.

BP has also appointed Giorgia Carchitto as Senior Vice President, Low Carbon Commercial Assets. Carchitto previously worked at RWE Renewables.

Both positions report to Giulia Chierchia, Head of Strategy, Sustainability and Ventures.

BP has poached dozens of staff from rivals and leading renewable energy companies in recent years to advance chief executive Bernard Looney’s plans to rapidly expand the UK company’s renewable energy and low-carbon business.

Reporting by Ron Busso; Editing by Jason Neely

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