Volvo Penta, a supplier of power solutions for industrial applications, has acquired a minority stake in US-based Utility Innovation Group (UIG), a specialist in resilient and innovative utility systems and decentralized energy solutions. This strategic investment is expected to accelerate Volvo Penta’s entry into the utility sector and further develop its battery energy storage subsystem and power generation portfolio as part of its road to net zero.
Through this partnership, Volvo Penta and UIG aim to enhance their collective capabilities and create innovative solutions to advance electric grid infrastructure. They will also have the potential to provide more opportunities for mission-critical use cases, such as hospitals and data centers, and 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.
By connecting energy sources with battery energy storage systems (BESS), users can optimize their energy usage, reduce reliance on the grid, and build a more resilient energy ecosystem. This investment underscores Volvo Penta’s ambition to scale net-zero projects together with its OEM customers and continue to strengthen its reliable portfolio of solutions.
HelĆ©ne Mellquist, President of Volvo Penta, said, “This move is another proof point on our journey to net zero and decarbonizing beyond the transportation sector. We see great potential in our investment and our collaborative partnership with UIG. Together, we will be able to accelerate access and adoption of BESS-related solutions.”
Sidney Hinton, Founder and CEO of UIG, added, “Establishing trust and fostering a strong partnership comes naturally, given the proven track record of the Volvo Group’s technology in emissions reductions, heavy-duty power solutions, and aftermarket expertise. With this strategic investment, we aim to deploy industry-leading solutions and new technologies, enabling digitalization, charging optimization, and microgrid operations.”
