REG - Invinity Energy Sys - Launch of Next-Generation Vanadium Flow Battery

Invinity Energy SystemsAnnouncement

03/12/2024 07:00

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RNS Number : 5048O  Invinity Energy Systems PLC  03 December 2024

 

3 December 2024

 

Invinity Energy Systems plc

 

("Invinity" or the "Company")

 

Invinity Launches Next-Generation Vanadium Flow Battery

ENDURIUM™ builds on the widely deployed VS3 product to offer greater storage
capacity and improved efficiency all at lower cost

 

Invinity Energy Systems plc (AIM: IES) (AQSE: IES) (OTCQX: IESVF), a leading
global manufacturer of utility-grade energy storage, today formally launches
ENDURIUM™, the Company's next-generation vanadium flow battery, for general
sale.

 

 Above: A rendered image of Invinity's new ENDURIUM vanadium flow battery

 

ENDURIUM, previously code-named "Mistral", is an evolution of the Company's
proven vanadium flow battery technology optimised for use in large-scale
energy storage projects of up to a gigawatt-hour and beyond. ENDURIUM is
available in configurations optimised for discharge durations spanning 4 to 18
hours and offers a number of key product improvements including a lower cost
of storage, greater energy density, simplified maintenance and improved
round-trip efficiency, while retaining the existing safety, durability and
longevity benefits already proven by Invinity's previous product generations.

 

First shipments of ENDURIUM are on track to commence before the end of 2024.
Confirmed customers include Gamesa Electric (announced 27 September 2024) and
Everdura Technology Co. (announced 9 June 2023). As previously disclosed,
ENDURIUM has also been selected for 84 MWh of projects backed by the U.S.
Department of Energy (DOE) and qualifies as a Stream 2 technology for use in
projects intending to operate under the UK Government's recently announced
LDES Cap and Floor Scheme.

 

Invinity has already carried out significant testing of ENDURIUM in
cooperation with its joint development partner, Gamesa Electric. The Company
is pleased to note those test results have been independently reviewed by DNV,
a world leader in testing and certification across the energy value chain, to
confirm conformity with published specifications and operating parameters.

 

For the UK and European market, ENDURIUM is proudly Made in Britain at
Invinity's facilities in Scotland. The Company also has facilities in Canada
and the USA and expects to meet enhanced U.S. domestic content requirements
from 2026.

 

Invinity will be holding a global webinar series for potential customers and
partners commencing Thursday 12 December. Parties with a commercial interest
in the product can register to join via this link
(https://invinity.com/product-webinar) . Recordings of the presentations will
be made available to Invinity's investors on the Company's website shortly
after their conclusion.

 

Visit Invinity's website (https://invinity.com) for further information on
ENDURIUM and to contact the Company's sales team to discuss commercial
opportunities.

 

Jonathan Marren, Chief Executive Officer at Invinity said:

 

"I'm delighted to officially launch ENDURIUM, our next-generation vanadium
flow battery. As a Company, our activities are focused on accelerating global
progress towards net zero and today's launch marks another important step
forward in unlocking low-cost, low-carbon energy on demand for all.

 

"The commercial release of ENDURIUM is an important milestone for Invinity and
an essential step on our pathway to profitability. We would not have achieved
this without the hard work and dedication of every member of the Invinity team
and the support of our partners, customers and shareholders along the way.
Thank you to everyone who has helped make ENDURIUM a reality. I'm very excited
for the next stage in our journey."

 

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

 Tavistock (Financial PR Advisor)                                          +44 (0)20 7920 3150
 Simon Hudson / Saskia Sizen / Adam Baynes                                 invinity@tavistock.co.uk (mailto:invinity@tavistock.co.uk)

 

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 75 MWh
of systems already deployed or contracted for delivery across 82 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 quoted 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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