REG - Invinity Energy Sys - Appointment of Chief Development Officer

Invinity Energy SystemsAnnouncement

07/07/2022 07:16

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RNS Number : 5985R  Invinity Energy Systems PLC  07 July 2022

 

7 July 2022

Invinity Energy Systems plc

 

("Invinity" or the "Company")

 

Appointment of Chief Development Officer

 

Invinity Energy Systems plc (AIM:IES and AQSE:IES), a leading global
manufacturer of utility-grade energy storage, is pleased to announce the
appointment of Jonathan Marren as Chief Development Officer with effect from
Monday 11 July 2022. Jonathan will remain on the Board of Invinity as an
Executive Director.

 

Jonathan has served as a Non-Executive Director on Invinity's Board since the
Company merged into its present form in April 2020 and as Senior Independent
Director since May 2021. Reporting directly to Invinity CEO Larry Zulch,
Jonathan will be responsible for developing current and prospective strategic
partnerships as well as executing on wider corporate growth opportunities for
Invinity. He will conduct his global responsibilities out of Invinity's London
office.

 

In recognition of his transition to an Executive Director of the Company, the
Board intends to make an award of options to Jonathan under the employee share
option plan in the coming days.

 

About Jonathan Marren

 

Jonathan Marren has spent over 20 years working at the intersection of energy
and finance, advising London-listed energy and cleantech companies on
corporate strategy, M&A and corporate finance.

 

Jonathan was at Invinity's predecessor, redT energy, from 2012 to 2016 and has
been a Non-Executive Director of redT energy and then Invinity since.
Jonathan's prior positions include Deputy Head of Corporate Finance at Singer
Capital Markets and Director in the Corporate Department of Peel Hunt.

 

Jonathan qualified as a chartered accountant with Arthur Andersen in 1999.
 

 

Board Constitution and Committees

 

The Company announces that subsequent to the appointment of Jonathan Marren as
Chief Development Officer, making him an Executive Director, Rajat Kohli will
replace him as Senior Independent Director.

 

Jonathan will also step down from his role as Chair of the Audit & Risk
Committee and as a member of the Nomination and Remuneration Committees.
Michael Farrow will replace Jonathan as Chair of the Audit & Risk
Committee and Kristina Peterson will replace Michael Farrow as Chair of the
Remuneration Committee. The Company does not intend to appoint an additional
Non-Executive Director at this stage.

 

Larry Zulch, Chief Executive Officer at Invinity said:

 

"I first encountered Jonathan in connection with the merger that created
Invinity, and the respect I developed for him then has been reinforced since.
I am absolutely delighted to have Jonathan on the executive team to provide
Invinity with the full measure of his insights and experience. Jonathan
clearly shares our conviction that Invinity is on the verge of demonstrating
its true value as a utility-grade alternative to lithium-based stationary
energy storage."

 

Enquiries:

 

 Invinity Energy Systems plc                             +44 (0)204 551 0361
 Peter Dixon-Clarke, Chief Financial Officer

 Joe Worthington, Director of Communications

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

 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 Hutchinson

 

Notes to Editors

 

Invinity Energy Systems plc (AIM:IES and AQSE: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 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).

 

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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