Galp announced the creation of Upcoming Energies, a platform that will enable the development of ideas for cooperation with startups, universities and other technology partners with the aim of exploring the energy transition to carbon neutrality.

According to the Portuguese oil company's CEO, Andy Brown, the purpose is to "accelerate and build the future with a collaborative approach that brings together cutting-edge technology and talent to help us achieve these ambitious goals."

The platform presented this Tuesday, during the Web Summit, represents a total investment of 180 million Euros by 2025.

The platform will serve the Portuguese and Brazilian markets in order to accelerate the energy transition by promoting "a reliable and efficient ecosystem.

For Galp's CEO, it is essential that the energy system changes "in time". And this change will only be possible through "innovation and digitalization", as well as through "working with society as a whole to change consumption habits".

Upcoming Energies, developed by Galp's innovation team, will be built on several initiatives over the next year, including partnerships, educational programs, acceleration programs, and investment in emerging start-ups that develop new digital and energy transformation solutions.

Through Upcoming Energies, startups, scale-ups, companies, universities, investors and other partners can share their vision and solutions and receive support from Galp.

By 2030, Galp aims to reduce absolute emissions from operations by 40%, the Carbon Intensity Index (based on production) by 40% and the Carbon Intensity Index by 20%.