UtilityInnovation Group (UIG), a Raleigh, NC- and Dublin, Ireland-based company specializing in utility systems and decentralized energy solutions, received an investment from Volvo Penta.
The amount of the deal was not disclosed.
The company intends to use the funds to scale its expertise to meet the accelerating demand for more dynamic, sustainable electric grid infrastructure. Supported by Volvo Penta, UIG will aim to:
- Expand the reach of resilient energy solutions.
- Drive the adoption of advanced battery energy storage solutions (BESS).
- Deploy the GridSure advantage.
Led by Sidney Hinton, Founder and CEO, UIG specializes in designing, building, protecting, and operating the global carbon-free grid of the future. It provides utility protection and controls engineering, substation and distribution development, microgrid development, and grid resiliency. Together with their partners, the company has developed an international presence dedicated to their mission of improving electric grid infrastructure across the globe through an explicit focus on decarbonization and the ever-increasing need for resiliency.
FinSMEs
07/11/2024