BP has signed a memorandum of understanding with Nio Capital that is expected to lead to investments in advanced mobility technologies.

The Tokyo Electric and Chubu Electric-backed renewable energy provider is targeting an initial $386m, though share sales could take the offering to $1bn.

BayWa RE Energy Ventures will target energy-related technological areas like digitalisation, energy storage and e-mobility.

Gerd Goette built a storied career at Siemens, investing in more than 50 transactions and taking more than 25 directorships and board observer positions.

Imran Kizilbash, formerly vice-president at Schlumberger Technology Investments, is considering his next move.

Existing backers Legal and General Capital and Statoil Energy Ventures have returned for an $11.2m round that took Oxford PV's total financing to $77m.