Sign up Australia
Proactive Investors - Run By Investors For Investors

BidEnergy Ltd clinches deal with BP plc for Australia and New Zealand

BidEnergy Ltd clinches deal with BP plc for Australia and New Zealand

Newly listed BidEnergy Ltd (ASX:BID) has soared after clinching an agreement to supply its cloud-based energy management platform to BP plc's (LON:BP) Australian and New Zealand businesses for electricity supplies.

BidEnergy had just completed a backdoor listing on the ASX earlier this week through Cove Resources Ltd after raising $7 million in new capital.

BidEnergy’s platform provides enterprises with multiple sites control over their energy spend, from sourcing to billing and accounts payable.

The subscription agreement with BP was won via a competitive tender process against a suite of local and global consultancies.

BP has over 600 electricity meters across Australia and New Zealand and BidEnergy will provide source-to-pay services to BP’s Australian and New Zealand business units.

This will provide data and reporting access to business analysts in Europe and the U.S. at the same time.

The agreement is for an initial 24 months period and is set to commence in August 2016.

BidEnergy’s platform also allows energy suppliers to bid and provide the most cost-effective service to clients.

Following the listing, the company’s focus will be on the rollout of the BidEnergy platform to deregulated markets in UK, Europe and North America, through direct sales and channel partners.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

View full BID profile View Profile

BidEnergy Ltd Timeline

November 17 2017
June 28 2017

Related Articles

rare earths
January 18 2018
The first ever drilling campaign at Gakara is about to get underway
Copper Wiring
April 14 2018
The miner now plans to begin a fuller feasibility study as the Botswana government grants permission for an expanded drilling area around the T3 Dome
Picture of pilot plant
April 05 2018
An impressive pre-feasibility study features a pre-tax valuation of $227 million for start-up capital expenditure of $65 million.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use