Energy organizations are adapting their portfolios to meet the rapidly evolving needs of nations and consumers—but doing so is easier said than done.
W ith the energy transition in full swing, the industry is undergoing a profound transformation—one that requires balanced solutions and expansion into new territories. From innovative technologies to the growing emphasis on sustainability, energy companies face the challenge of navigating a fast-changing market and are racing to pivot accordingly. Last year, we uncovered that 98% of industry leaders are preparing to evolve their brand to maintain relevance and future-proof their offer in a changing energy world. As part of this evolution, we’re seeing established players diversify their portfolios and scale clean verticals and technologies— whether in renewable power generation, battery storage, carbon capture technology, or the charging infrastructure for electric vehicles (EVs). Shell, for example, has expanded into on-street EV charging with its acquisition of ubitricity (now Shell Recharge). Meanwhile, BP took full ownership of Europe’s largest solar developer, Lightsource bp, late last year. And, as recently reported in the Financial Times, multiple oil and gas giants are exploring opportunities to break into lithium, the essential metal in EV batteries. It’s the right move. According to McKinsey, building smart, diversified portfolios can improve an energy company’s risk and return profile by 50-80%—a significant market advantage. As global energy consumption begins to transition— with oil and gas consumption falling, and >
Will Bosanko Managing Partner, Brand Brandpie
Issue 2 - Brandpie Energy 27
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