REG - Invinity Energy Sys - ENDURIUM Selected for UK LDES Cap & Floor Bids

Invinity Energy SystemsAnnouncement

23/06/2025 07:02

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RNS Number : 9321N  Invinity Energy Systems PLC  23 June 2025

 

23 June 2025

Invinity Energy Systems plc

 

("Invinity" or the "Company")

 

ENDURIUM Selected for Multiple UK LDES Cap & Floor Bid Applications

9 developers select ENDURIUM for LDES Cap and Floor bids in first application
window

 

Ahead of the commencement of the International Flow Battery Forum this week,
at which Invinity is exhibiting, and further to the Company's 12 March 2025
(https://www.londonstockexchange.com/news-article/IES/uk-ldes-cap-floor-to-open-in-april/16936438)
announcement regarding the opening of the UK LDES Cap & Floor Scheme (the
"Scheme"), Invinity Energy Systems plc (AIM: IES) (OTCQX: IESVF), a leading
global manufacturer of utility-grade energy storage, provides an update
following the close of the Scheme's first application window earlier this
month.

 

The Company is highly encouraged to have received a significant level of
interest from UK battery developers planning to use ENDURIUM batteries in
their project bids. This outcome has validated the Company's previous decision
to release a product in Q4 2024, which was developed with the Scheme and
others like it in mind. It also further underlines Invinity's belief that the
Scheme has not only been designed to support the significant build out of LDES
assets but also enable growth in high-quality energy storage manufacturing
jobs in the UK over the next 5 years in line with the goals and objectives of
the UK Government.

 

Project bids in the first Scheme bid window had to be submitted and commenced
grid connection applications ahead of the application deadline on 9 June 2025.
These bids are now under review by Ofgem to confirm eligibility before they
progress to the final assessment phase which is expected to conclude in H1
2026. Successful bids are expected to generate orders for delivery in
2028-2030.

 

The Company is pleased to confirm that 9 UK energy storage developers have
selected Invinity's ENDURIUM batteries for their project bids into the Scheme
which are each at or above the minimum 400MWh in size. Eligibility criteria
also requires the technology to have already been deployed and operating at
scale and the Company believes the proven nature of Invinity's vanadium flow
batteries has been a key driver for the high level of interest received.

 

Certain of these developers have proposed ENDURIUM for multiple projects. This
includes but is not limited to Invinity's partner Frontier Power
(https://www.londonstockexchange.com/news-article/IES/partnership-to-deploy-up-to-2gwh-of-vfbs-in-uk/16903326)
, noting ENDURIUM has been selected for approximately half of their project
bid portfolio.

 

The Company cautions that due to the competitive nature of this process, there
is no guarantee any, and highly unlikely that all, of these bids will
ultimately be successful under the Scheme. However, Invinity's management team
believe, given the quality of the developers who selected ENDURIUM and the
volume of bids submitted, that the Company is well positioned to secure a
level of orders which could be highly material to Invinity's future trading.

 

In parallel to the Company's activity in the UK, Invinity continues to pursue
a range of commercial opportunities, particularly across North America, Europe
and Asia, as well as progressing discussions with a number of new partners
both in these regions and elsewhere.

 

Updates will be provided in due course as appropriate.

 

 

Jonathan Marren, Chief Executive Officer at Invinity said:

 

"Since this LDES scheme was first launched, the Invinity team has been
engaging closely with numerous developers to submit high quality bids ahead of
the deadline. We are delighted with the positive feedback that we have
received from our partners, with significant quantities of our UK-made
vanadium flow batteries being proposed for this important scheme as a result.
Should these bids be successful, we believe the build out of our ENDURIUM
batteries across the country will not only help to lower energy costs for
consumers but also help to provide wider economic benefits across the UK as we
scale our operations."

 

 

 

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 (Financial Adviser and Joint Broker)            +44 (0)20 3005 5000
 Andrew Monk / Andrew Raca

 

Notes to Editors

 

Invinity Energy Systems plc (AIM: 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 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 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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