BP Amoco, Others To Invest $100 Million In Clean Energy

GreenMountain.com, a provider of environmentally cleaner energy, has entered into an agreement under which BP Amoco PLC and others will invest up to $100 million to fund the firm's growth. GreenMountain.com and BP Amoco also announced a relationship to market and promote GreenMountain Energy products. In addition, Lycos Inc. will team with GreenMountain.com under a separate marketing agreement to promote energy products throughout the Lycos Network. Under the commercial alliance between GreenMountain.com and BP Amoco, BP Amoco will market the GreenMountain Energy brand of renewable electricity to large-business customers. BP Amoco and GreenMountain Energy also will promote GreenMountain.com's solar energy offerings using BP Solarex's solar energy products and services. "This investment, along with the online marketing agreement with Lycos, is a major step forward for GreenMountain.com," says Dennis Kelly, CEO of GreenMountain.com. "By making these significant commitments, BP Amoco, Lycos, and others have recognized the tremendous U.S. market opportunity for selling cleaner and renewable energy to both households and business customers."