RCS - Invinity Energy Sys - Canada's Energy Minister Visits Invinity Facility

Invinity Energy SystemsAnnouncement

09/08/2023 07:00

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RNS Number : 7159I  Invinity Energy Systems PLC  09 August 2023

 

9 August 2023

Invinity Energy Systems plc

 

("Invinity" or the "Company")

 

Canada's Minister for Energy and Natural Resources Visits Invinity Facility

Invinity's Vancouver facility provides backdrop for announcement of Canada's
first Clean Energy Strategy

 

Invinity Energy Systems plc (AIM: IES) (AQSE: IES) (OTCQX: IESVF) a leading
global manufacturer of utility-grade energy storage, was delighted to host
Canada's Minister for Energy and Natural Resources, Jonathan Wilkinson,
alongside British Columbia's Minister of Jobs, Economic Development and
Innovation, Brenda Bailey, at the Company's newly expanded manufacturing
facility in Vancouver yesterday.

 

In recognition of the important role that Invinity, amongst others, is playing
in establishing Canada as a global leader in battery manufacturing, Minister
Wilkinson toured the facility and used the visit to officially launch Canada's
vision paper for a clean, reliable and affordable grid. The Minister also
announced Canada's intention to develop the country's first Clean Energy
Strategy in 2024.

 

 

Earlier that day, Invinity's facility was the venue for a clean energy
roundtable discussion attended by Minister Wilkinson, Minister Bailey and Dr.
Ged McLean, Executive Director of the B.C. Centre for Innovation and Clean
Energy ("CICE"). They were joined by a number of Canada's leading clean energy
technology companies, including Invinity which was represented on the panel by
Chief Commercial Officer, Matt Harper.

 

 

Canada has committed to achieving net-zero before 2050 and as part of the 2023
Federal Budget released in March, announced a six-year 30% investment tax
credit for clean energy projects which is expected to significantly accelerate
the deployment of renewables and energy storage across Canada in the years to
come.

 

Earlier this year, Invinity delivered an 8.4 MWh vanadium flow battery, the
largest flow battery project of its kind to Canadian renewable project
developer Elemental Energy's Chappice Lake Solar Storage project in Alberta.
The project, which is expected to go live shortly, will see a 21 MWp solar
array coupled with Invinity's battery to generate low-cost, low-carbon
electricity on demand for the Alberta grid.

 

Jonathan Wilkinson, Canada's Minister for Energy and Natural Resources said:

 

"CICE funding recipient Invinity Energy Systems is a leading example of how
Canadian companies are supporting the rapid development of advanced renewable
energy technology. Invinity is playing an important role in establishing
Canada as a global leader in battery innovation and manufacturing, exporting
Canadian expertise from British Columbia to the world. The work of Invinity
and of other innovative companies across Canada is a crucial part of the
federal government's vision, released today, to achieve a clean, reliable and
affordable electricity grid. We are proud to support them."

 

Dr. Ged McLean, Executive Director at the B.C. Centre for Innovation and Clean
Energy said:

 

"Invinity Energy Systems is at the forefront of vanadium flow batteries,
spearheading game-changing transformation in energy storage to enable a
resilient electricity grid. CICE is proud to fund such huge potential to
fulfill energy storage and charging requirements for commercial, industrial
and utility-grade projects with unparalleled efficiency and reliability."

 

 

Matt Harper, Chief Commercial Officer at Invinity said:

 

"A clean, reliable electric grid that delivers low-cost energy to Canadian
industries, institutions and homes is critical to achieving our country's net
zero future. Technological innovation, combined with the strengths that
already exist within Canada's industry and labour force, will be the key to
delivering that future while strengthening our domestic economy. Invinity are
thrilled to have been able to host Ministers Wilkinson and Bailey alongside
the B.C. Centre for Innovation in Clean Energy and other participants to
advance this important conversation. We look forward to working within our
industry, and with governments at all levels, to realize the role Invinity's
vanadium flow batteries will play in building a robust, clean economic future
for Canada."

 

 

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 Development Officer and Interim CFO

 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 65
MWh of systems already deployed or contracted for delivery across over 70
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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