”The investment in UtilityInnovation Group highlights the potential we see in our BESS subsystems for sectors with high energy demand,” says Hannes Norrgren, President of Volvo Penta’s industrial operations, and continues: ”Entrepreneurial companies like them bring specialized expertise that enhances our capabilities to meet future demands and accelerate time-to-market with pioneering solutions.”
Will benefit critical operations
The US-based UIG is as mentioned in the intro specializing in innovative solutions for decentralized and robust electricity supply. Through this, UIG and Volvo Penta will have a better opportunity to increase their capacity and drive innovation to jointly develop the electricity network infrastructure of the future.
The development cooperation will also benefit critical operations such as hospitals and data centers and to a new category of ”prosumers” – consumers and producers of their own energy from, for example, renewable and other local energy sources. Such users can optimize their energy use by integrating energy sources with battery storage systems to reduce dependence on the grid and create a more reliable electricity supply ecosystem. Overall, the acquisition underlines Volvo Penta’s ambition to, as an independent supplier, drive a faster transition to more climate-smart solutions together with its customers, while continuing to improve its current product portfolio for industrial applications and power generation.
”This milestone is further proof of Volvo Penta’s journey towards net zero emissions and contribution to fossil-free electricity production beyond the transport sector. We see great potential in our collaboration with UIG and the investment we are making. Together we will be able to further develop and accelerate the use of battery storage” , concludes Heléne Mellquist, CEO Volvo Penta.
UIG head Sidney Hinton, founder and CEO of the company 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 meet the critical challenges facing the energy sector today.”
In the press release Volvo Penta claims that, “The investment in UtilityInnovation Group further strengthens Volvo Penta’s role in supporting the global energy transition and reflects the company’s dedication to developing solutions that contribute to a more sustainable and resilient future.” How then?
A sustainable way to storage energy from renewable sources
Energy storage with batteries will play an increasingly decisive role in the societies of the future. They provide a sustainable and versatile way to store energy from renewable power sources such as solar or wind, which enables the efficient use of these resources and can also improve the stability of the electricity grid. ”By investing in energy storage systems, we are not only developing our business, but will also contribute to a cleaner and more resilient one,” Volvo Penta has written in a previous press release.
In general, when it comes to battery-powered energy storage, it can be noted that Volvo Penta’s high-performance sub-system consists of, among other things, batteries that are used in the heavy vehicle industry and that are well suited to cope with the high demands that exist regarding reliability, fast charging and discharging.
High-performance sub-systems for energy storage and which, for example, can consist of batteries that are currently used by Volvo Group’s electrified trucks, construction machines and buses are important elements for the efficient operation of electrified vehicle fleets and other areas where these systems are used, such as hospitals or data centers. The energy-dense battery system will enable fast charging and discharging thanks to the favorable C rating, ensuring a consistent and reliable power supply. In industrial environments, where uptime and reliability are critical, such technology aims to deliver tangible benefits.
