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Volvo Energy To Invest SEK 50 Mln In Connected Energy To Accelerate Battery Business

Volvo Energy, a unit of Volvo Group (VOLVY.PK) on Friday announced an investment of SEK 50 million for 10 percent in the U.K.-based, second-life battery energy storage specialist Connected Energy.

The deal is aimed at further accelerating Volvo Group's battery business and sustainability opportunities. This forward-leaning investment aims to facilitate the scaling-up of second-life battery energy storage systems and further secure circular business opportunities for the forthcoming ramp-up in Volvo Group's second-life battery returns.

The repurposing of the batteries is intended to obtain the full value from the batteries from a climate, environment and business perspective.

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