RCS - Invinity Energy Sys - Official Opening of New UK Manufacturing Facility

Invinity Energy SystemsAnnouncement

24/07/2024 09:00

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RNS Number : 6330X  Invinity Energy Systems PLC  24 July 2024

 

24 July 2024

Invinity Energy Systems plc

 

("Invinity" or the "Company")

 

Official Opening of New Manufacturing Facility in Scotland

Successful capital markets event held for investors and key stakeholders

 

Invinity Energy Systems plc (AIM: IES) (AQSE: IES) (OTCQX: IESVF) a leading
global manufacturer of utility-grade energy storage, is delighted to announce
that in line with plans set out in the Company's 3 June 2024 announcement, its
new Motherwell manufacturing facility was officially opened yesterday.

 

Larry Zulch, CEO, cuts the ribbon at Motherwell accompanied by Adam Howard,
Director of Banking and Investments, UK Infrastructure Bank and Neil O'Brien,
Chairman, Invinity

 

This facility, located in Motherwell, North Lanarkshire is approximately six
times the size of Invinity's existing facility in Bathgate and will increase
the Company's UK assembly capacity to over 500 MWh per year, support the
creation of more than 40 new jobs in the region and enable faster and more
efficient delivery of vanadium flow batteries across the UK, Europe and
further afield.

 

This achievement underlines the progress Invinity is making as part of its
capex-light manufacturing strategy to ensure it can meet the more than 6 GWh
of global demand currently in the Company's commercial pipeline. Supported by
the UK Infrastructure Bank's recent investment into the Company alongside
institutional and retail investors and the UK Government's growing focus on
longer duration energy storage, Invinity is well-placed to ensure its
batteries can be rapidly manufactured and deployed to help accelerate the
country's transition to net zero.

 

Following the official launch, the Company hosted a Capital Markets Day for
investors, analysts and key stakeholders including representatives from the
Scottish Government at its Motherwell and Bathgate facilities. The event was
well attended and included a tour of both facilities with opportunities to
meet with Invinity's Board of Directors and hear from Invinity staff and
partners through a number of 'deep dive' sessions. This included a live
demonstration of Invinity's batteries charging and discharging from the
Scottish grid and an overview of the Company's next-generation product,
codenamed "Mistral" for which the pilot manufacturing stage has been initiated
ahead of commercial launch later this year.

 

 

Guests on a guided tour of the new Motherwell facility

 

The Company is in the process of producing a recording of the event which will
be made available on Invinity's website in due course.

 

 

Larry Zulch, Chief Executive Officer at Invinity said:

 

"Our Motherwell facility supports key pillars of Invinity's strategy: our
transformation of vanadium flow batteries from bespoke engineering projects
into factory-built products, with all of the benefits of quality, cost, and
consistency derived therefrom, combined with our ongoing commitment to the UK
market at every level from manufacturing through to deployment. We were
pleased to share the opening of this facility with our investors and
stakeholders participating in our very successful Capital Markets Day."

 

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 and Investor Relations

 Tavistock (Financial PR Advisor)                                        +44 (0)20 7920 3150
 Simon Hudson / Saskia Sizen / Adam Baynes                               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 75 MWh
of systems already deployed or contracted for delivery across 82 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 quoted 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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