RCS - Invinity Energy Sys - 1.1 MWh Sale for Taiwanese National Laboratory

Invinity Energy SystemsAnnouncement

03/10/2023 07:00

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RNS Number : 4461O  Invinity Energy Systems PLC  03 October 2023

 

3 October 2023

Invinity Energy Systems plc

 

("Invinity" or the "Company")

 

1.1 MWh Sale for Taiwanese National Technology Laboratory

Invinity technology to be evaluated for use in national infrastructure
projects

 

Invinity Energy Systems plc (AIM: IES) (AQSE: IES) (OTCQX: IESVF) a leading
global manufacturer of utility-grade energy storage, is pleased to announce a
1.1 MWh sale to Taiwan's National Applied Research Laboratories ("NARLabs").

 

The project will see five Invinity VS3 vanadium flow batteries ("VFBs") with a
combined capacity of 1.1 MWh installed inside a building at the NARLabs
laboratory in Taipei. The VFBs will be used to offset electricity use at the
facility during peak times and provide back-up in the event of a power outage.
NARLabs will also perform validation testing on Invinity's technology with the
intention of verifying the performance and safety of the Company's batteries
in order that they may be specified into future Taiwanese energy
infrastructure projects.

 

The batteries have been procured on behalf of NARLabs by Taiwanese
engineering, procurement and construction company NeoSurfing Industrial, who
will undertake the installation, commissioning and ongoing maintenance of
Invinity's battery for the duration of the project.

 

Taiwan aims to have 27 GW of installed capacity coming from renewable sources
by 2025. Recent power outages and the need to increase resiliency in the grid
means Taiwan Power Company ("Taipower") is investing US$16.6 billion to
decentralise power grids and increase transmission stability. Additionally,
with limited new land area available for new energy developments, the ability
to deploy safe and reliable batteries, within buildings and in built-up urban
environments, is an important consideration.

 

Delivery of the Invinity batteries is expected to commence in Q4 2023. The
contract was included as part of the Company's Base category in its most
recently disclosed commercial pipeline.

 

 

Matt Harper, Chief Commercial Officer at Invinity said:

 

"Invinity are extremely excited to see NARLabs demonstrate the capabilities
our VFBs can deliver to the Taiwanese grid and beyond. Regional demonstrations
like this help us and our customers work side-by-side to fully unlock our
batteries' potential, proving we can deliver safe, long-duration and
high-throughput energy storage that goes above and beyond the limited services
possible using lithium solutions."

 

 

Stay up to date with news from Invinity. Join the distribution list for the
Company's monthly investor newsletter here
(https://invinity.com/newsletter/?utm_source=iesrns) .

 

Enquiries:

 

 Invinity Energy Systems plc                                             +44 (0)20 4551 0361
 Jonathan Marren, Chief Financial Officer and Chief Development Officer

 Joe Worthington, Director of Communications

 Tavistock (Financial PR Advisor)                                        +44 (0)20 7920 3150
 Simon Hudson / Charles Baister                                          invinity@tavistock.co.uk (mailto:invinity@tavistock.co.uk)

 

Notes to Editors

 

Invinity Energy Systems plc (AIM: IES) (AQSE: IES) (OTCQX: IESVF) manufactures
vanadium flow batteries for large-scale, high-throughput energy storage
requirements of business, industry and electrical networks.

 

Invinity's factory-built flow batteries run continually with no degradation
for over 25 years, making them suitable for the most demanding applications in
renewable energy production. Energy storage systems based on Invinity's
batteries are safe, reliable, and economical, and range in size from less than
250 kilowatt-hours to tens of megawatt-hours.

 

Invinity was created in April 2020 through the merger of two flow battery
industry leaders: redT energy plc and Avalon Battery Corporation. With over 70
MWh of systems already deployed or contracted for delivery across over 79
sites in 15 countries, Invinity is active in all major global energy storage
markets and has operations in the UK, Canada, USA, China and Australia.
Invinity Energy Systems plc is listed in the UK on AIM and AQSE and trades in
the USA on OTCQX.

 

To find out more, visit invinity.com (https://invinity.com/?utm_source=rns) ,
sign up to our monthly Investor Newsletter here
(https://invinity.com/newsletter/?utm_source=iesrns) or contact Investor
Relations on via +44 (0)20 4551 0361 or ir@invinity.com
(mailto:ir@invinity.com)

 

 

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