RCS - Invinity Energy Sys - Scottish Net Zero Secretary Tours Invinity Factory

Invinity Energy SystemsAnnouncement

10/11/2023 12:45

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RNS Number : 1262T  Invinity Energy Systems PLC  10 November 2023

 

10 November 2023

Invinity Energy Systems plc

 

("Invinity" or the "Company")

 

Scottish Cabinet Secretary for Net Zero Visits Invinity Bathgate Facility

Màiri McAllan MSP highlights the importance of energy storage and its role
within a Just Transition to Net Zero

 

Invinity Energy Systems plc (AIM: IES) (AQSE: IES) (OTCQX: IESVF) a leading
global manufacturer of utility-grade energy storage, was delighted to welcome
Màiri McAllan MSP, the Cabinet Secretary for Transport, Net Zero and Just
Transition in Scotland, to the Company's manufacturing facility in Bathgate,
West Lothian yesterday.

 

Ms McAllan being given a demonstration of an operating VS3 battery product
during her factory visit.

 

Ms McAllan was given a guided tour of the facility, where Invinity VFBs are
fully assembled and tested to ISO and UL standards before being shipped to
Invinity's customers around the world. Ms McAllan then participated in a
hands-on demonstration of the capabilities of Invinity's batteries, charging
an Invinity VS3-022 battery with low-carbon electricity from the Scottish
electricity grid. Ms McAllan also took time to meet Invinity's staff and learn
how Invinity's batteries enable 24/7 renewable energy from the sun and wind,
by storing excess generation from these renewable but intermittent sources of
power and then discharging that stored energy to fill in supply gaps when the
sun isn't shining and the wind isn't blowing.

 

(From left to right) Jonathan Marren (CFO and CDO), Màiri McAllan MSP,
Jean-Louis Cols (VP Solutions Engineering) and Paul Docherty (VP of
Manufacturing Operations) in front of two operating Invinity VS3 flow
batteries

 

Ahead of the 2023 United Nations Climate Change Conference ("COP28") due to be
held later this month, the suitability of Invinity's technology for key
battery projects both in Scotland and globally was also discussed with Ms
McAllen, who noted the role Invinity is currently playing in creating new
green jobs in Scotland and the Company's commitment to the principles of a
Just Transition.

 

The Scottish Government's 2023 Draft Energy Strategy and Just Transition Plan
recognised that "utility scale battery storage offers fast responding,
dispatchable power when required", allowing for the acceleration of
decarbonisation in the UK. The anticipated growth in renewable generation in
Scotland to meet net zero targets
(https://www.parliament.scot/about/news/news-listing/urgency-needed-to-create-capacity--in-scotlands-electricity-infrastructure)
is expected to lead to a significant rise in energy constraints for which
energy storage, such as Invinity's Vanadium Flow Batteries, are an
increasingly recognised solution.

 

Scotland's Net Zero Secretary, Màiri McAllan MSP said:

 

"It was a pleasure to visit Invinity Energy System's Bathgate manufacturing
facility to see their work first-hand. Their battery storage technology has an
important role to play in accelerating the energy transition and, because the
battery technology can be recycled after use, it will also help grow the
circular economy.

 

"It is great to see a Scottish firm leading this innovation. This work will
not only support a just transition by creating more green jobs in Scotland,
but will help ensure we remain at the forefront of the energy transition and
can become a leader in driving future clean power systems."

 

Jonathan Marren, Chief Financial Officer and Chief Development Officer at
Invinity said:

 

"Delivering 24/7 renewable energy on demand is a fundamental requirement for
achieving net zero both in the UK and globally. Invinity are proud to be
playing a significant role in making this a reality through the growing
deployment of longer duration energy storage technology like our vanadium flow
batteries.

 

We are delighted to have hosted Ms. McAllen, Cabinet Secretary for Transport,
Net Zero and Just Transition at our facility and are grateful to her for the
opportunity to demonstrate our world-leading battery technology and showcase
the skills of our world-class team."

 

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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