REG - Invinity Energy Sys - 20 MWh New EU Sales and Year End Trading Update

Invinity Energy SystemsAnnouncement

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RNS Number : 4022N  Invinity Energy Systems PLC  02 January 2026

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").

 

 

2 January 2026

Invinity Energy Systems plc

 

("Invinity" or the "Company")

 

20 MWh New EU Sales and Year End Trading Update

Invinity batteries selected for Hungary; Trading to Year End 2025

 

Invinity Energy Systems plc (AIM: IES), a leading global manufacturer of
utility-grade long duration energy storage, is pleased to announce two new
sales and to provide an update on its current trading to the end of 2025.

 

2025 Trading and Future Prospects

 

2025 began with Invinity having just launched its Endurium product and shipped
its first 1.2 MWh demonstration system from its manufacturing facility in
Vancouver and the Company was actively working on a key strategic goal of
reducing Endurium product costs in order to open up as broad a market
opportunity as possible whilst supporting improved product margins.

 

With 2025 now complete, Invinity is pleased to report substantial progress
across all key areas of the business including Commercial, Operations, Product
Range and Product Cost.

 

Commercially, as well as the recently announced sales in late December to
Pacific Northwest National Labs ("PNNL")
(https://irtools.co.uk/88/story/6e302e5d-c1f8-4ae1-9a3a-f7e433fdd814) (12 MWh
Endurium) and the first Endurium Enterprise sale to Charles Murgat
(https://irtools.co.uk/88/story/0726cb84-dcb7-4e4a-8184-b62ad14a8335) (3.5
MWh), the Company also announced sales during the year with STS Group ("STS")
(10.8 MWh Endurium), Ideona Group ("Ideona") (2 contracts totalling 4 MWh for
VS3) and confirmed the Invinity Copwood VFB Energy Hub (formerly the LoDES
project) would proceed (20.7 MWh VS3). Invinity is also announcing today its
biggest combined sales agreements to date for 2 Endurium systems totalling 20
MWh to Ideona, further details of which are set out below.

 

The Company has a substantial pipeline of opportunities which it is
progressing and has growing confidence that this pipeline will ultimately be
converted into material sales orders in due course, particularly given the
momentum shown recently from the 4 agreements announced over the last 7
business days. In addition, the Company continues to work with its potential
customers on the 16.7 GWh of bids submitted under the UK Long Duration Energy
Storage ("LDES") Cap & Floor Scheme, further details of which are given
below.

 

The above commercial progress has been made possible by the product cost
reduction activities that have, and continue to be, engaged in and are
progressing ahead of targets. This, together with the expansion of the product
range announced in September 2025 with the launch of Endurium Enterprise
primarily aimed at the Commercial & Industrial 'behind-the-meter' market,
is enabling Invinity to provide a competitive product offering to its
customers and which, the Board believe, will enable Invinity to expand its
market share and cement its position as one of the leading global
manufacturers of utility-grade long duration energy storage.

 

Operationally, Invinity is pleased to announce that deliveries to major
projects expected for completion within 2025 have been successfully concluded.
This includes deliveries to HITT, STS
(https://irtools.co.uk/88/story/03585594-b169-4c81-852f-37764fd389bd) and the
2 VS3 sales to Ideona
(https://irtools.co.uk/88/story/2fa11589-8314-4503-8b5a-4efc8a0e9c4f) as well
as the Invinity Copwood VFB Energy Hub, which is progressing very well and
expected to be fully operational within H1 2026. The Company is very pleased
to have engaged with partner Enel X to manage dispatch and revenue
optimisation from the Invinity Copwood VFB Energy Hub, which once operational
will generate recurring revenue for the Company.

 

A feature of Invinity's operational capabilities is the flexibility of its
manufacturing approach. Stack manufacturing capacity was significantly
increased through the implementation of a semi-automated stack line in
Scotland, which can be readily replicated in other jurisdictions for
relatively low capital expenditure, and during the year the transfer has been
completed of Endurium initial balance of system manufacturing to its partner
in China, Baojia. Invinity is now able to ship Endurium direct from the UK,
Canada and China and is primed to scale up such capacity across those
locations as well as the U.S. and in India supported by its recently announced
partnership with Atri.

 

The Company is pleased to confirm that it has recently concluded the
commissioning of its 10 MWh project with partner Indian Energy
(https://invinity.com/viejas-microgid/) at the Viejas Resort and Casino in
Southern California, as well as its 4 MWh project with EDF Renewables North
America subsidiary PowerFlex
(https://invinity.com/4-mwh-sale-powerflex-edf-north-america-california-pv/)
on the tribal lands of the Rincon Band of Luiseño Indians, also in Southern
California. At the Rincon project all the Invinity vanadium flow batteries
("VFBs") have now been installed, with commissioning expected in January 2026.

 

In terms of performance for 2025, on 9 September the Company confirmed, inter
alia, that it had approximately £15m of signed committed or booked revenue
and grant income where Invinity had a high confidence, albeit with risks
remaining relating to supply chain execution impacting delivery by year-end.
It also stated that it had approximately £5m signed uncommitted with projects
where the key risks include delay to customer Notice to Proceed ("NTP") and
approximately £6m near-term contracts. The amount of such revenue to be
recognised would depend on concluding certain near-term commercial
opportunities and the successful shipment of those together with the
completion of shipment of existing signed orders.

 

The Company can confirm today that it anticipates recording revenue and
project grant income for 2025 of approximately £17m following the shipment of
products to STS, Ideona and HITT as well as claiming the majority of the grant
funding available for the Invinity Copwood VFB Energy Hub. This does not
include any licence fee income from the agreement with UESNT which had not yet
been concluded by, despite negotiations running up to, the year-end; however,
Invinity will work with UESNT to progress their project into 2026.

 

At today's date, the Company has a 2026 order book of £17m signed
contracts/sales agreements comprising the following:

·    Approximately £8m signed committed.

·    Approximately £9m signed uncommitted. These are projects where the
key risks include delay to customer NTP, typically impacted by construction
permits, site readiness and the timing of financial close. This number does
not include any licence fee which would be payable by UESNT if their project
progresses.

 

This order book, which matches the same revenue and project grant income
expected to be recorded for all of 2025, represents a meaningful portion of
anticipated 2026 revenues which, together with the substantial pipeline of
potential order for 2026 and beyond, gives significant confidence in the
future prospects for the Company.

 

Follow-On Sales to Hungarian Partner

 

As indicated above, the Company has signed two new agreements to supply 20 MWh
of vanadium flow battery systems to Central European Vanadium Storage Kft, a
subsidiary of diversified energy project, property and capital management firm
Ideona (https://ideona.hu/#hero_ideona) , one of Invinity's commercial
partners in Hungary, for use in two solar-plus-storage projects in Hungary.

 

These deals would represent Invinity's fourth and fifth sales into the
Hungarian market, and are repeat orders from Ideona, which previously
purchased a 4 MWh VS3 battery system in September 2025
(https://irtools.co.uk/88/story/2fa11589-8314-4503-8b5a-4efc8a0e9c4f) and were
part of a consortium which purchased a 1.5 MWh VS3 in 2023
(https://irtools.co.uk/88/story/f3e6eb64-55a9-466b-9e37-1c4e124d9958) .

 

Of the 20 MWh, an 8 MWh Endurium VFB will be located in Veszkény, western
Hungary, while a 12 MWh Endurium VFB will be located in Dunaföldvár, central
Hungary. Both projects will be co-located with existing solar photovoltaic
arrays and will use Invinity's batteries to provide energy shifting and
regulation services to their local grids. These projects are to be supported
in part by funding from the Hungarian government.

 

As with previous sales with Ideona, both agreements are conditional on NTP
being received by Invinity, which the Company has been advised to expect in H1
2026 once Ideona and their funding partners have reached financial close on
each project. Assuming the NTPs are received in line with this schedule,
deliveries of Endurium batteries for both projects are expected to commence in
H1 2026.

 

Cap and Floor Programme Continues to Progress

 

Finally, Invinity has continued to work with its partners within the UK LDES
Cap and Floor programme to advance those applications for delivery to 21
projects across the UK, which together could see the deployment of up to 16.7
GWh of Invinity's VFBs
(https://irtools.co.uk/88/story/8c0f9287-3dc7-400b-8698-27bcc18821ef) .
Efforts by Invinity and its partners within Q4 2025 have included finalising
submissions to programme administrator Ofgem
(https://www.ofgem.gov.uk/press-release/super-battery-projects-maximise-renewable-generated-power-enter-next-phase-ofgems-green-power-storage-scheme)
detailing the cost-benefit analysis of these projects, confirming how these
projects will benefit not just the operation of the UK grid but also the costs
passed on to electricity consumers.

 

The Company cautions that due to the competitive nature of the Ofgem process,
there is no guarantee any, and highly unlikely that all, of these project bids
will ultimately be successful. However, Invinity's management team continue to
believe that the Company is well positioned to secure a level of orders which
could be highly material to Invinity's future trading.

 

The Company expects to provide an update once further announcements on the
scheme are made by Ofgem, for which Ofgem has guided towards a final
determination in summer 2026.

 

Jonathan Marren, Chief Executive Officer at Invinity said:

 

"2025 has been a year of meaningful progress for Invinity. We entered the year
having just launched Endurium and with a clear focus on reducing product costs
while expanding our addressable market, and I am pleased with the substantial
advances we have made commercially, operationally and in product
competitiveness. The momentum demonstrated by multiple sales announced in
recent weeks, repeat orders from established partners such as Ideona, and the
build-up of a £17m 2026 order book gives the Board growing confidence in the
Company's outlook. With a scalable manufacturing footprint, an expanded
product range and a strong pipeline across utility-scale and behind-the-meter
markets, we believe Invinity is well positioned to drive further growth and
strengthen its position as a global leader in long-duration energy storage.

 

"These follow-on agreements with Ideona are a strong endorsement of both our
technology and our execution. Signing repeat agreements which will represent
our largest combined sales to date with a trusted European partner reflects
the growing role that long-duration energy storage is playing in
solar-plus-storage projects across Central Europe. We look forward to
supporting Ideona as these projects progress to financial close and into
delivery during 2026, and to further expanding our partnership as the market
for grid-scale long duration energy storage continues to develop."

 

 

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 Executive Officer

 Joe Worthington, Senior Director, Corporate Affairs

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

 VSA Capital (Joint Broker)                                  +44 (0)20 3005 5000
 Andrew Monk / Andrew Raca

 

Notes to Editors

 

Invinity Energy Systems plc (AIM: IES) 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 30 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 1 to
hundreds 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 more
than 190 MWh of systems deployed, contracted for delivery or awarded for
projects across more than 90 sites in 17 countries, Invinity is active in all
major global energy storage markets and has operations in the UK, Canada, USA
and China. Invinity Energy Systems plc is quoted in the UK on AIM.

 

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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