Swedish marine and industrial engine manufacturer Volvo Penta has announced a follow-up investment in UtilityInnovation Group (UIG), an US and Irish company specializing in utility systems and decentralized energy solutions. Following the investment, UIG aims to combine Volvo’s battery energy storage solution (BESS) with UIG’s expertise in grid integration to deliver energy developments for utilities, data centers, and large energy users.
In addition, the investment will support the deployment of UIG’s integrated controls and asset management platform, GridSure, to manage grid capacity, improve overall system resilience, and monitor infrastructure.
“The investment in UtilityInnovation Group highlights the potential we see in our BESS subsystems for high energy demand sectors,” said Hannes Norrgren, president of Volvo Penta’s Industrial Business. Sidney Hinton, CEO of UIG, added: “We are thrilled to deepen our partnership with Volvo Penta. Their global reach and commitment to sustainability make them an ideal partner as we work to address the critical challenges facing the energy sector today.”
