REG - Invinity Energy Sys - 1.3 MWh Sale to U.S. Datacenter

Invinity Energy SystemsAnnouncement

07/10/2022 07:00

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RNS Number : 0948C  Invinity Energy Systems PLC  07 October 2022

The information contained within this Announcement is deemed by Invinity
Energy Systems plc to constitute inside information as stipulated under the
Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK law by virtue
of the European Union (Withdrawal) Act 2018 ("MAR").

 

7 October 2022

Invinity Energy Systems plc

 

("Invinity" or the "Company")

 

1.3 MWh Sale to U.S. Datacenter

Tax credits from Inflation Reduction Act support microgrid system for Arizona
datacenter

 

Invinity Energy Systems plc (AIM: IES) (AQSE: IES) (OTCQX: IESVF), a leading
global manufacturer of utility-grade energy storage, is pleased to announce
the sale of a 1.3 MWh Invinity VS3 flow battery system to Kinetic Solutions
LLC ("Kinetic") for use in a microgrid providing 24/7 power to a datacenter in
Arizona, USA.

 

Six Invinity VS3 batteries with a total capacity of 1.3 MWh will be installed
alongside 400 kWp of solar PV at a datacenter located in Arizona. Kinetic will
use the Invinity battery system to operate the datacenter on renewable power
24 hours a day, 7 days a week and mitigate the effects of power outages, a
frequent occurrence in the region. A deposit has been paid and manufacturing
of Invinity's batteries will commence shortly. Shipment of the battery
solution is scheduled for early 2023.

 

Kinetic Solutions LLC has been established as a distributed energy solutions
provider, specialising in renewable microgrid infrastructure for commercial
and industrial sites across the U.S. including datacenters, manufacturing
facilities, distribution hubs and EV charging stations.

 

Invinity's vanadium flow batteries were chosen for the project due to their
robustness in high-temperature environments and ability to perform long
duration (4 - 24 hour) energy discharge during power outages.

 

This sale follows a recent report published by the White House Office of
Science and Technology Policy (OSTP) calling on U.S. energy regulators to
review the impact of data processing plants such as datacenters on national
and federal energy networks, both from a resiliency and a carbon footprint
perspective.

 

Invinity's battery is expected to generate Investment Tax Credits (ITCs) for
Kinetic as a result of the Inflation Reduction Act, the positive impact of
which Invinity noted in an announcement on 9 August 2022.

 

Matt Harper, Chief Commercial Officer at Invinity said:

 

"We are thrilled to be working with Kinetic Solutions on this U.S. project
that showcases the advantages of vanadium flow batteries and provides a
real-world example of Invinity products generating investment tax credits for
our U.S. customers. This deal embodies a number of positive developments: the
growing awareness of the need to power datacenters with renewable energy, an
opportunity to work with Kinetic, an emerging expert in solar microgrids, and
the receipt of U.S. government support for energy storage through the
Inflation Reduction Act. We look forward to delivering this project and view
this application as an excellent area of opportunity for similar U.S.
follow-on business in the future."

 

Enquiries:

 

 Invinity Energy Systems plc                                 +44 (0)204 551 0361
 Jonathan Marren, Chief Development Officer and Interim CFO

 Joe Worthington, Director of Communications

 Canaccord Genuity (Nominated Adviser and Joint Broker)      +44 (0)20 7523 8000
 Henry Fitzgerald-O'Connor / Gordon Hamilton

 VSA Capital (Financial Adviser and Joint Broker)            +44 (0)20 3005 5000
 Andrew Monk / Simon Barton

 EAS Advisors LLC (US Corporate Advisor)                     +1 (646) 495 2225
 Matthew Bonner / Chris Chesworth

 

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 33
MWh of systems deployed to date across more than 50 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 on the AIM Market of the London Stock Exchange and on
the Aquis Stock Exchange (AQSE). The Company trades in the USA on OTCQX Best
Market under the symbol "IESVF".

 

To find out more, visit invinity.com (https://invinity.com/?utm_source=rns) or
call Investor Relations on +44 (0)204 551 0361.

 

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