REG - Invinity Energy Sys - Invinity Completes Manufacturing Expansion

Invinity Energy SystemsAnnouncement

30/08/2022 07:16

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RNS Number : 4705X  Invinity Energy Systems PLC  30 August 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").

 

30 August 2022

Invinity Energy Systems plc

 

("Invinity" or the "Company")

 

Invinity Completes Manufacturing Expansion

First shipment from new facility; UL certification granted for Invinity VS3
battery modules

 

Invinity Energy Systems plc (AIM: IES) (AQSE: IES) (OTCQX: IESVF), a leading
global manufacturer of utility-grade energy storage, is pleased to announce
the first shipment of Invinity batteries from new manufacturing partner Baojia
New Energy ("Baojia").

 

The Company announced on 27 June 2022 in its 2021 Full Year Results that it
was expanding its manufacturing capabilities by working with Baojia, a
contract manufacturer with over 1,000 employees and more than 180,000 square
meters of facilities located across Asia primarily dedicated to manufacturing
hardware for renewable energy projects worldwide.

 

1.1 MWh of Invinity batteries have now been shipped from Baojia's facility in
Suzhou China. These batteries will form part of the 8.4 MWh order placed by
Elemental Energy for their project in the Canadian province of Alberta
announced on 3 February 2022. The batteries will be shipped to Alberta via
Invinity's facility in Vancouver where the systems will undergo final assembly
and testing ahead of expected delivery in Q4 2022.

 

Invinity's VS3 battery modules can now be marked as certified to UL1973, the
globally recognised standard for stationary battery systems. The UL
certification mark, issued by Underwriters Laboratories, is especially
important within North America where it is often required for equipment
connected to the electric grid.

 

UL certification sets Invinity's product apart from many other emerging
battery technologies and provides third-party validation of Invinity VS3
safety characteristics. This certification is a key component of the Company's
ongoing North American growth strategy and builds from the announcement that
Invinity's products have been certified compliant with multiple major ISO
standards in April this year.

 

Matt Harper, Chief Commercial Officer at Invinity said: "We are constantly
working to improve our customers' experience deploying Invinity's products.
Delivering against tight timelines and seamlessly integrating our products at
site is critical to achieving that goal. Our announcement today combines two
critical steps toward delivering ever-larger projects that benefit from
Invinity's focus on operational excellence at scale. I'm thrilled that our
partners at Elemental and every one of our existing and future customers will
benefit from this critical evolution of Invinity's capabilities."

 

 

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) (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 also 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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