Invinity Energy Systems PLC - London-based utility-grade energy storage manufacturer - Says it will deliver its 2023 results in line with expectations, and anticipates a full-year minimum total income of GBP21.6 million, an increase from GBP2.9 million in 2022. Adds it is in current discussions with "a number of parties" for potential partnerships, which it expects to finalise in the first quarter of 2024.
Chief Executive Officer Larry Zulch says: "I'm pleased with our operational performance having delivered the largest flow batteries ever deployed in multiple countries. Invinity has set out to do something that has not been done before: make flow batteries into a proven, factory-built product that transforms renewable energy into the kind of dependable resource it must be to help power the future low-carbon world. Invinity is well underway in the difficult but promising transition from a development-stage company, to making significant revenue, to a profitable company with class-leading products.
Current stock price: 29.00 pence, up 9.4%
12-month change: down 28%
By Sabrina Penty, Alliance News reporter
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Invinity Energy (IES)