REG - Invinity Energy Sys - 2.1 MWh Sale to U.S. Utility

Invinity Energy SystemsAnnouncement

01/06/2023 07:00

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RNS Number : 2554B  Invinity Energy Systems PLC  01 June 2023

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").

 

 

1 June 2023

Invinity Energy Systems plc

 

("Invinity" or the "Company")

 

2.1 MWh Sale to U.S. Utility

Invinity flow battery will provide solar power on-demand for San Juan Island

 

Invinity Energy Systems plc (AIM: IES) (AQSE: IES) (OTCQX: IESVF), a leading
global manufacturer of utility-grade energy storage, is pleased to announce a
2.07 MWh sale to Orcas Power and Light Cooperative (OPALCO), the non-profit
cooperative utility for San Juan County, Washington, U.S. for use in a solar
plus storage project.

 

The project will see nine Invinity VS3 vanadium flow batteries installed by
OPALCO alongside a 2.75 MWp Solar array on San Juan Island, located off the
west coast of Washington state. Invinity's batteries will be used to store
excess solar generation which can then be discharged on-demand to support the
local grid and enhance energy security on the island as part of an innovative
microgrid project.

 

OPALCO is committed to developing a resilient energy system via local
renewable and battery storage projects. Delivery of the Invinity batteries is
expected in H1 2024. The contract was included as part of the Company's Base
category in its most recently disclosed commercial pipeline.

 

Foster Hildreth, General Manager at OPALCO said:

 

"We're excited to be implementing Invinity's vanadium flow battery technology
as part of our innovative island microgrid project. This project will
significantly advance our ambitions to power San Juan Island from clean,
low-cost, self-generated renewable energy and offer our isolated island
communities a local, low-carbon power supply. Invinity's technology will
provide our system with proficient storage capabilities while maximizing our
investments."

 

Matt Harper, Chief Commercial Officer at Invinity said:

 

"We at Invinity are very pleased that OPALCO has selected our vanadium flow
batteries to play a major part in dispatching locally produced renewable
energy to the San Juan Island community. This exciting project will further
demonstrate how our batteries can bring the benefits of 24/7 renewable power
to even the furthest reaches of the U.S. electrical grid. We hope this project
will be the first of many with cooperative utilities like OPALCO who together
provide power to 42 million Americans."

 

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

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

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

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

 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 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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