Book excerpt: This open access book comprises 10 high-level papers on research and innovation within the Flexitranstore Project that were presented at the FLEXITRANSTORE special session organized as part of the 21st International Symposium on High Voltage Engineering. FLEXITRANSTORE (An Integrated Platform for Increased FLEXIbility in smart TRANSmission grids with STORage Entities and large penetration of Renewable Energy Sources) aims to contribute to the development of a pan-European transmission network with high flexibility and high interconnection levels. This will facilitate the transformation of the current energy production mix by hosting an increasing share of renewable energy sources. Novel smart grid technologies, control and storage methods, and new market approaches will be developed, installed, demonstrated, and tested introducing flexibility to the European power system. FLEXITRANSTORE is developing a next-generation Flexible Energy Grid (FEG) that will be integrated into the European Internal Energy Market (IEM) through the valorization of flexibility services. This FEG addresses the capabilities of a power system to maintain continuous service in the face of rapid and large swings in supply or demand. As such, a wholesale market infrastructure and new business models within this integrated FEG must be upgraded for network players, and offer incentives for new ones to join, while at the same time demonstrating new business perspectives for cross-border resource management and energy trading.