2 February 2024, 13:24
Volvo Penta acquires a minority stake in UtilityInnovation Group (UIG) to advance Battery Energy Storage Systems (BESS).
UIG's recent acquisition of Enicity enhances the partnership's ability to contribute to a resilient energy future.
Volvo Penta aims to support Electric Utilities and Large Energy Users in reducing carbon footprints and transitioning to cleaner energy.
The collaboration leverages Volvo Penta's engineering expertise in heavy-duty applications and UIG's system integration skills.
UIG's expansion into the European market is anticipated to increase Volvo Penta's influence in the energy sector.
Volvo Penta and UIG are co-developing robust and efficient BESS solutions, integrating regulatory expertise from Enicity.
Hannes Norrgren, President of Volvo Penta Industrial, emphasizes the acceleration of their energy sector journey through the UIG partnership.
Volvo Penta's engineering capabilities focus on integrating subsystems and ensuring the safety of BESS installations.
The company utilizes certified battery packs and systems to provide reliable and modular solutions to customers.
As part of the Volvo Group, Volvo Penta benefits from a wide range of systems and knowledge within the group's electrification platform.
The collaboration between Volvo Penta and UIG is aimed at driving the transition towards a sustainable future and establishing resilient energy storage systems.
In the rapidly evolving energy sector, Battery Energy Storage Systems (BESS) are not just an innovation – they are a necessity. Recognizing the transformative potential of BESS, Volvo Penta has acquired a minority stake in UtilityInnovation Group (UIG) to enable the development of resilient and reliable BESS solutions. Strengthened recently by UIG's acquisition of Enicity, we are well-prepared to continue our contribution towards a more resilient energy future.
As the world accelerates towards decarbonization, both Electric Utilities and Large Energy Users (LEUs) face the intricate challenge of reducing carbon footprints and transitioning to cleaner and more diverse energy sources, all while maintaining reliable power supply.
At Volvo Penta, we recognize the pivotal role that battery energy storage plays in tackling these challenges. Our legacy is firmly rooted in the Volvo Group's tradition of engineering expertise and proficiency in heavy-duty applications. This strong foundation, coupled with investments in companies like UIG, enables us to contribute to the energy sector.
As an independent supplier, we eagerly anticipate UIG's expansion into the European market. This move not only broadens our scope of influence and knowledge but also underscores the importance of diverse regulatory expertise in this rapidly evolving sector.
Enabling integration and efficiency
At Volvo Penta, we recognize the value of strong partnerships like the one we have with UIG. Capitalizing on Volvo Penta's engineering proficiency and UIG's system integration prowess, we are in the midst of co-developing robust and efficient BESS solutions. The partnership has recently been enriched with UIG's acquisition of Enicity, who brings their regulatory expertise, utility-facing capabilities, and a robust network. This consolidation is a sign of joint progress to accelerate global adoption of sustainable energy solutions.
"Our collaboration with UIG has greatly accelerated our journey, enabling us to extend our reach and influence in the energy sector,” says Hannes Norrgren, President Volvo Penta Industrial.
Leveraging integration, safety and legacy
One of the key strengths Volvo Penta brings to the table is our engineering capability to seamlessly integrate subsystems and ensure the safety of installations. Our expertise extends to working with certified battery packs and systems, offering a reliable and modular solution to our customers. By utilizing our engineering know-how and the already established certification processes, we provide peace of mind to our customers and optimize costs, eliminating the need for them to embark on resource and time-consuming development processes independently.
As a part of the Volvo Group, Volvo Penta also benefits from access to a vast range of systems and knowledge within the group's electrification platform. With a rooted legacy in heavy-duty applications, the Volvo Group has accumulated extensive experience in developing and deploying electrified solutions. This collaboration empowers Volvo Penta to leverage this accumulated knowledge, incorporating the best practices and engineering capabilities into our battery energy storage systems in a holistic way.
Supporting a resilient energy future
Volvo Penta’s collaboration with UIG reflects the company’s commitment to driving the transition towards a sustainable future. Together, we are not just meeting the demands of the present; we are charting the course for the future of energy storage systems. In an era where such systems are essential, our endeavors go beyond mere adaptation. We are actively forging a path towards deeper engagement in this sector, as we work to establish a future firmly grounded in resilience and sustainability.
“Our partnership fosters knowledge sharing, expands access to battery energy storage solutions, and propels the accelerated adoption of sustainable energy solutions," concludes Hannes Norrgren, President Volvo Penta Industrial.
Source: Volvo Penta