DCP Midstream Partners with Plug and Play's Energy & Sustainability Innovation Platform

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Oct 17, 2018, 15:15 ET

SUNNYVALE, Calif., Oct. 17, 2018 /PRNewswire/ -- DCP Midstream today announced their partnership with Plug and Play, a Silicon Valley venture capital firm and innovation platform. DCP Midstream is a Fortune 500 company and one of the largest producers of NGLs and one of the largest natural gas processing companies in the U.S. DCP Midstream joins ExxonMobil, Siemens, BASF, and over 250 other corporations from around the globe looking to engage with startups to facilitate innovation in their organizations.

"DCP Midstream is proud to be leading the midstream industry in innovation and technology adoption, and our partnership with Plug and Play is a critical next step in our strategic approach to accelerating our digital transformation via DCP Technology Ventures and DCP 2.0," said Wouter van Kempen, President, Chairman and CEO of DCP Midstream.

"As innovation and new technology changes all aspects of our lives at an extreme speed, we need to be agile and embrace technology from entrepreneurs and startups around the world that will affect all industries such as Automotive, Energy, Supply Chain, etc.," said Saeed Amidi, Founder and CEO of Plug and Play. "It is with great pleasure to work together with DCP Midstream to go through this digital transformation journey with the company, their clients and suppliers, as well as major industry leaders in the US that will shape the future of the production of natural gas, refining and distribution."

DCP Midstream will work with Plug and Play to tap into startups in the areas of digitalization and predictive analytics, as well as technologies related to gas processing and pipeline performance. DCP will look to implement these technologies into their business activities to strengthen their core and to explore new growth opportunities through their new ventures arm, DCP Technology Ventures. Visit http://www.dcpmidstream.com/ventures or contact them at [email protected].

"DCP Technology Ventures is working to integrate and scale externally developed technologies to strengthen our core business and provide new opportunities for growth," said Anand Pradhan, Head of DCP Technology Ventures. "We have strategically partnered with Plug and Play to make our priorities visible within the startup ecosystem and we are excited to see what the future holds."

"We are thrilled to have DCP Midstream joining our global corporate network at Plug and Play," said Wade Bitaraf, Founder and Director of Plug and Play's Energy & Sustainability program. "We will be finding and funding startups that bring operational efficiency and clear value proposition to our partners in the oil and gas industry value chain from the upstream to downstream businesses."

ABOUT DCP MIDSTREAM

DCP Midstream, LP is a Fortune 500 midstream master limited partnership headquartered in Denver, Colorado, with a diversified portfolio of gathering and processing assets in addition to logistics and marketing assets. DCP is one of the largest natural gas liquids producers and marketers and one of the largest natural gas processors in the U.S. The owner of DCP's general partner is a joint venture between Enbridge and Phillips 66. For more information, visit the DCP Midstream, LP website at www.dcpmidstream.com.

ABOUT PLUG AND PLAY

Plug and Play is an active early stage investor and global innovation platform. Headquartered in Silicon Valley, Plug and Play has built accelerator programs, corporate innovation services, and an in-house VC to make technological advancement progress faster than ever before. Since inception in 2006, their programs have expanded worldwide to include a presence in over 20 locations globally giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 6,000 startups and 280 official corporate partners, they have created the ultimate startup ecosystem in many industries. They provide active investments with 200 leading Silicon Valley VCs, and host more than 700 networking events per year. Companies in their community have raised over $7 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, and PayPal. For more information, visit www.pnptc.com.

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SOURCE Plug and Play