InnoEnergy partners with Swedish energy firms for local energy systems

InnoEnergy, Europe’s sustainable energy engine supported by the EIT, announced partnership with five Swedish energy companies to launch Power2U, its new venture to design and operate local energy systems.

The partners – Öresundskraft, Jämtkraft, Tekniska Verken, Umeå Energi and Jönköping Energi – and InnoEnergy will jointly invest 60 million SEK.

Based on an innovation project that InnoEnergy initiated, Power2U is a new energy operator offering building optimization services that enable all types of buildings to participate in digital energy transformation.

The future-proof energy management platform developed by the team will enable both end users and energy companies to benefit from the integration of new sustainable energy technologies such as solar cells, EV chargers and batteries.

Through Power2U, InnoEnergy is facilitating the integration of new sustainable energy technology while contributing to the stability, resilience and robustness of existing energy grids.

Kenneth Johansson, CEO of InnoEnergy Scandinavia, says, “With the partnership, the solution is fast-tracked to market through each energy company’s strong local presence. And we will ensure continued access to expertise, technology and resources.”

Together with InnoEnergy, the five energy companies will now collaborate and focus to roll out the solution to the market. The solution links control units on the “Internet of Things” to unlock end-user flexibility and balance demand and supply in an energy market. It is targeted at primarily property owners and large energy users.

Johansson adds, “The energy market is about to change fundamentally. Energy end users are growing larger and equipping themselves with their own power generation. We expect rapid growth of local storage capacity in the form of electric cars and stationary batteries. Our joint new model is an important puzzle piece in the new energy landscape, and we are aiming for a rapid market launch starting in Sweden.”