Gareth Burns, heading BP Ventures, has initiated a transformation in the investment arm of the UK-based energy giant. With plans to invest between $150-200 million annually over the next few years, Burns aims to elevate BP Ventures' involvement in startups related to bioenergy, electric vehicles, renewables, and notably, hydrogen. The increased team size and strategic adjustments under Burns' guidance signal a shift towards closer alignment with BP's business units and a focus on fostering startup success beyond mere financial investments. Recent funding in Electric Hydrogen and Eavor Technologies reflects BP Ventures' commitment to innovative energy solutions. Burns's vision extends beyond immediate business needs, emphasizing the exploration of new technologies to shape BP's future strategies. Leveraging his experience from Equinor, Burns sees venture investments as a strategic tool for guiding corporate evolution towards lower carbon energy. His ambition is to establish BP Ventures as the preferred energy corporate venture capital entity, driving innovation and collaboration in the energy sector.