(Alliance News) - Invinity Energy Systems PLC on Wednesday said it has been selected to provide batteries for four separate energy storage projects in the US state of California.
The vanadium flow battery company said it is still working on concluding the final contracts with its unnamed partner, but aims for a 2021 delivery.
In January, energy policy and planning agency California Energy Commission released a grant funding opportunity to promote longer-duration non-lithium ion energy storage. Invinity collaborated with four partners to submit four independent proposals, all of which have been accepted.
The company will be providing 7.8 megawatt hour vanadium flow batteries for the projects.
Chief Executive Larry Zulch said: "The California Energy Commission has taken a leadership role in driving the diversity of energy storage required in the future. We were fortunate to collaborate with some tremendous partners on this opportunity and thrilled to have all four proposals with which we were involved chosen for funding. Our success in this solicitation is an enormous vote of confidence in Invinity's vanadium flow batteries and their ability to help ensure a robust, clean, and inexpensive energy supply in the future."
Invinity shares were up 18% at 136.00 pence each in London on Wednesday morning.
By Greg Roxburgh; gregroxburgh@alliancenews.com
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Invinity Energy (IES)