European sustainable energy engine InnoEnergy has partnered with five Swedish firms to launch a new venture to design and operate modernised energy systems.

The project partners for Power2U are Öresundskraft, Jämtkraft, Tekniska Verken, Umeå Energi and Jönköping Energi, which along with InnoEnergy, will jointly invest SEK60 million (£5m).

They aim to offer services enabling all types of buildings to participate in digital energy transformation and benefit from the integration of low carbon energy technologies such as solar panels, electric vehicles and batteries.

The companies say the service will also add to the stability, resilience and robustness of existing energy grids.

Kenneth Johansson, CEO of InnoEnergy Scandinavia, said: “The energy market is about to change fundamentally. Energy end users are growing larger and equipping themselves with their own power generation.

“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. We already have more international inquiries than we can handle.”