UtilityInnovation Group
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Volvo Penta invests in Utility Innovation Group to accelerate electric grid innovation
Volvo Penta has made a strategic investment in UIG, US-based specialists in resilient, innovative utility systems and decentralized 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, leveraging renewables and other on-site energy sources. All profiles can optimize 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.