Volvo Penta invests in Utility Innovation Group to accelerate electric grid innovation

Volvo Penta has acquired a minority stake in Utility Innovation Group (UIG), a move that will accelerate its entry into the utility sector to further develop the company’s battery energy storage subsystem and power generation portfolio as it drives towards net zero.  
Volvo Penta invests in Utility Innovation Group to accelerate electric grid innovation
Members of the Volvo Group, Volvo Penta and Utility Innovation Group management teams.

Volvo Penta has made a strategic investment in UIG, US-based specialists in resilient, innovative utility systems and decentralised energy solutions. Through this, UIG and Volvo Penta have the potential to enhance their collective capabilities, while jointly creating innovative solutions and new market opportunities to advance electric grid infrastructure.

This milestone also provides more opportunities for mission-critical use cases, the likes of hospitals and data centers, alongside a new class of electrical ‘prosumers’ who both produce and consume energy in support of the electrical grid, utilising renewables and other on-site energy sources. All profiles can optimise their energy usage by connecting energy sources with battery energy storage systems (BESS) to reduce reliance on the grid and build a more resilient energy ecosystem. Overall, the investment underscores Volvo Penta’s ambition as an independent supplier, to scale net-zero projects together with its OEM customers at a higher pace while continuing to strengthen the reliable portfolio of solutions available to its customers.

“This move is another proof point on our journey to net zero and decarbonising beyond the transportation sector” said Heléne Mellquist, President Volvo Penta. “We see great potential in our investment and our collaborative partnership with UIG. Together we will be able to accelerate access to, and the adoption of, BESS-related solutions.”

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Volvo Penta

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