UtilityInnovation Group Acquisition, Valuation, Funding & Investors

UtilityInnovation Group was acquired by Vertiv for $1.4B in September 2026.

UtilityInnovation Group acquisition price

$1.4B

Acquired by Vertiv · Sep 2026

Cumulative funding UtilityInnovation Group raised

$32M

across 3 funding rounds

UtilityInnovation Group Overview

About UtilityInnovation Group

Utility Innovation Group is a Houston-headquartered firm delivering microgrids, distributed energy resources, and substation engineering for electric utilities worldwide. Services encompass system integration, cybersecurity, remote monitoring, and decarbonization projects including electrification and grid hardening. They have executed over 200 MW of renewable integrations and partnered with ERCOT for Texas resiliency initiatives. Operating in North America, Europe, and Asia, the group supports utilities transitioning to net-zero through digital substations and DER orchestration platforms.


Founded

2020

HQ

United StatesRaleigh, NC

Status

Acquired

Customer focus

B2B

Revenue model

Services

Valuation

$1.4B (acquired Sep 2026)

UtilityInnovation Group Acquisition

UtilityInnovation Group was acquired by Vertiv for $1.4B on 2 September 2026.

Before the acquisition UtilityInnovation Group had raised $32M across 3 funding rounds.

Vertiv agreed to acquire UtilityInnovation Group for about $1.45 billion in cash at closing, with up to an additional $1.15 billion payable as earnouts if specified EBITDA targets are met over the next 12 to 24 months, implying a total deal value of up to $2.6 billion. The acquisition is aimed at expanding Vertiv’s position in data center infrastructure by adding UtilityInnovation Group’s microgrid and advanced power controls capabilities, which support power management and resilience for energy-intensive digital infrastructure. Vertiv said the transaction was expected to close in the fourth quarter of 2026. UtilityInnovation Group is described as a microgrid and advanced power controls company serving the data center push, while Vertiv is positioning the deal as part of its broader strategy to strengthen its power and thermal management offering for large-scale digital infrastructure customers.

UtilityInnovation Group acquisition details
AcquirerDateTypePrice
2 Sep 2026Strategic M&A$1.4B

UtilityInnovation Group Funding History

UtilityInnovation Group has raised a total of $32M across 3 funding rounds.

UtilityInnovation Group's first fundraising round was a $8M Series A in November 2021. The most recent completed round was a $4M seed round in May 2023.

UtilityInnovation Group funding rounds

UtilityInnovation Group funding rounds
DateStageRaisedDeal Summary
May 2023Seed$4MUtility Innovation Group (UIG) is a Raleigh-based company specializing in decarbonization of utility grids and resilient, innovative utility systems. Founded by Sidney Hinton, former CEO of PowerSecure, the company develops microgrids around proprietary solutions and provides resilience work for utilities integrating carbon-free assets into their infrastructure. In April 2023, UIG closed a Series A funding round of $19.8M led by Volvo Penta, a strategic investment designed to accelerate Volvo's entry into the utility sector and develop battery energy storage subsystems and power generation capabilities. The investment reflects UIG's operational traction and aligns with both companies' net-zero objectives, with Volvo Penta gaining board-level visibility and UIG securing capital for global expansion. Following the initial April close, an additional $3.5M was disclosed to the SEC, bringing total capital raised to approximately $23.3M during this funding cycle.
Apr 2023Undisclosed stage$20MUtility Innovation Group (UIG), also known as Utility Innovation Holdings, is a Raleigh-based startup founded by Sidney Hinton, former CEO of PowerSecure, specializing in resilient utility systems, decentralized energy solutions, microgrids, and decarbonization of the utility grid. The company develops proprietary solutions for grid resilience, tying carbon-free assets into infrastructure, and has secured major contracts with household-name utilities, including European partners. UIG maintains a small office and lab in the Raleigh area with some PowerSecure veterans on staff. In April 2023, Volvo Penta acquired a minority stake in UIG as a strategic investment to accelerate entry into the utility sector, enhance battery energy storage subsystems (BESS), power generation, and net-zero projects. This funding round totaled $19.8 million closed in April 2023, with an add-on of nearly $3.5 million disclosed in May 2023 to the SEC, led by Volvo which exercised preemptive rights driving the round.
Nov 2021Series A$8MUtility Innovation Holdings, led by serial energy entrepreneur Sidney Hinton (former CEO of PowerSecure), raised approximately $8.2 million in equity financing in a round closing November 30, 2021. This brought the startup's total funding to over $10 million within its first year of operation. The company targets decarbonization, electrification, and digitalization solutions for electric utilities and large energy users, with offerings including energy storage and grid cybersecurity. According to the company, it was profitable at the time of the fundraising and had initial public offering aspirations for 2025, with target markets across North America, Europe, and Asia.

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Acquisitions by UtilityInnovation Group

UtilityInnovation Group has acquired 1 company to date.

Last acquisition by UtilityInnovation Group was on June 26th 2023. UtilityInnovation Group acquired Enicity for undisclosed valuation.


Latest Acquisitions by UtilityInnovation Group

Enicity
Description
Enicity is a Dublin-based consultancy advising on energy infrastructure and data center developments across Ireland and Europe. The firm supports hyperscale projects with grid connection strategies, facilitates market entry for battery storage operators, and manages partnerships for offshore wind farms off the Irish coast.
HQ CountryIreland
HQ City
Dublin
Deal Date26 Jun 2023
Valuationundisclosed
EV/Revenue
EV/EBITDA

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UtilityInnovation Group Competitors

UtilityInnovation Group competitors include listed companies like Quality Power Electrical, Changgao Electric Group, Dongfang Electronics Co and American Superconductor, and private ones like Span and Kyoto Fusioneering.

Public and private companies comparable to UtilityInnovation Group
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Quality Power ElectricalIndiaIndiaPublicly listed$98M$21M$1.2B10.5x
Changgao Electric GroupChinaChinaPublicly listed$248M$69M$1.1B3.0x
SpanUnited StatesSan Francisco, CAPrivate--$1B-
Dongfang Electronics CoChinaChinaPublicly listed$1.2B$155M$2.1B1.2x
Kyoto FusioneeringJapanTokyoPrivate--$472M-
American SuperconductorUnited StatesUnited StatesPublicly listed$299M$19M$1.4B3.8x

UtilityInnovation Group Public Comps

UtilityInnovation Group is no longer listed, but its public comps include American Superconductor, Landis+Gyr, Navigator Gas, CS Wind, Inox Wind, Hunan Energy Group, Friedrich Vorwerk Group, Gunkul engineering PCL, Tsakos Energy Navigation and Shoals.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
American Superconductor$299M$19M4.3x3.8x67.5x45.3x
Landis+Gyr$1.2B$145M1.5x1.5x12.2x10.9x
Navigator Gas$587M$295M3.9x4.2x7.7x7.6x
CS Wind$2.1B$205M1.0x1.1x10.6x6.7x
Inox Wind$439M$100M3.7x3.0x16.4x15.1x
Hunan Energy Group$52M$25M27.7x-57.1x-
Friedrich Vorwerk Group$811M$177M1.6x1.5x7.5x6.1x
Gunkul engineering PCL$234M$101M7.2x5.6x16.7x15.6x

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Common questions about UtilityInnovation Group

When was UtilityInnovation Group founded?UtilityInnovation Group was founded in 2020.
Where is UtilityInnovation Group headquartered?UtilityInnovation Group is headquartered in Raleigh, NC, United States.
Is UtilityInnovation Group publicly listed?No, UtilityInnovation Group was acquired by Vertiv in September 2026.
Who acquired UtilityInnovation Group?UtilityInnovation Group was acquired by Vertiv in September 2026.
How much was UtilityInnovation Group acquired for?UtilityInnovation Group was acquired for $1.4B in September 2026.
How much funding has UtilityInnovation Group raised?UtilityInnovation Group has raised $32M across 3 funding rounds.
What was UtilityInnovation Group's last funding round?UtilityInnovation Group's last funding round was a $4M seed round in May 2023.
Which companies are comparable to UtilityInnovation Group?Companies comparable to UtilityInnovation Group include Quality Power Electrical, Changgao Electric Group, Span, Dongfang Electronics Co, Kyoto Fusioneering and American Superconductor.
How many companies has UtilityInnovation Group acquired?UtilityInnovation Group has acquired 1 company, including Enicity.

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