bp announced plans to invest up to £50 million (about $60 million) in a brand-new, cutting-edge analytical laboratory and electric vehicle (EV) battery testing facility in the UK. The UK’s energy system will receive up to £18 billion in new investments from bp by the end of 2030; this additional investment is another another sign of bp’s dedication to the nation.

The new buildings will support the technology, engineering, and research functions currently situated at bp’s current global headquarters for its Castrol business in Pangbourne, Berkshire, and are scheduled to open by the end of 2024.

“We’re backing Britain. We’re fully committed to the UK’s energy transition. This additional investment will help accelerate the transition to EVs by developing solutions to help decarbonise the transport sector. This is another example of our ambitious plans to do more, and go faster,” said Louise Kingham, bp’s UK head of country.

In an effort to get the industry closer to reaching the critical tipping points for widespread acceptance of electric cars (EVs), the new facilities will promote the development of cutting-edge fluid technologies and engineering for hybrid and fully battery electric vehicles.

Advanced e-fluid engineering and technologies can also be used in other sectors, such as the exponentially growing market for heat management fluids for data centers. Since 2010, the number of internet users worldwide has doubled, and the amount of global Internet Protocol (IP) traffic has increased 15-fold. This trend is anticipated to continue during the following ten years. The majority of global Internet Protocol (IP) traffic passes through data centers.

“We are committed to supporting the electrification of transport and the take-up of electric vehicles. The growth of EV fluids is a huge opportunity, and we aim to be the market leader in this sector.” Michelle Jou, CEO Castrol

Richard Bartlett, senior vice president, bp pulse added: “At bp pulse we aim to provide the fastest and most reliable charging experience to our EV customers and continue to invest in our rapid and ultra-fast network globally for passenger cars and trucks. This investment will help us co-develop battery and charger technology and digital solutions with our OEM partners to help EVs go further, charge faster and last longer.”