# Volvo Penta acquires minority stake in Utility Innovation Group

Volvo Penta acquired a minority stake in Utility Innovation Group (UIG), a US-based specialist in utility systems and decentralized energy solutions, to accelerate development of battery energy storage subsystems and power generation portfolio.

- Type: Investment
- Announced: 2023-04-11
- Where: United States
- Status: announced
- Products: battery energy storage systems, microgrid solutions
- Sectors: [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md), [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [Volvo Penta](https://endata.com/companies/69669.md) (investor)
- [Utility Innovation Group](https://endata.com/companies/69670.md) (partner)

## Sources

- [prnewswire.com](https://www.prnewswire.com/news-releases/volvo-penta-invests-in-utility-innovation-group-to-accelerate-electric-grid-innovation-301794359.html), 2023-04-11: "Volvo Penta has made a strategic investment in UIG, US-based specialists in resilient, innovative utility systems and decentralized energy solutions."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.