By Oliver Griffin

 

BP PLC (BP.LN) said on Tuesday that its BP Ventures business has invested $20 million in StoreDot Ltd., a company developing technology for ultra-fast charging batteries.

The oil-and-gas giant said it believes ultra-fast charging will be key to the wider adoption of electric vehicles and this investment will provide it with significant insight and access to promising new battery technology.

 

Write to Oliver Griffin at oliver.griffin@dowjones.com

 

(END) Dow Jones Newswires

May 22, 2018 05:13 ET (09:13 GMT)

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