(Sharecast News) - Energy storage technology specialist Invinity announced the sale of a 0.2 MWh Invinity VS3 flow battery system to VSUN Energy - a wholly owned subsidiary of Australian Vanadium - on Friday.
The AIM-traded firm said the energy storage system would be used by Australian power provider Horizon Power in a significant microgrid project.
It said the primary objective of the project would be to assess the potential of Invinity's vanadium flow batteries in reducing fossil fuel consumption within distributed electricity networks.
Horizon Power, a state-owned energy utility company, is responsible for generating, procuring, distributing, and retailing electricity to residential, industrial, and commercial customers across Western Australia.
With a substantial presence in the region, Horizon owns and operates 34 microgrids that serve more than 100,000 residents and over 10,000 businesses.
The company said the 0.2 MWh flow battery system would be installed at a Horizon power site in Kununurra, Western Australia, marking a significant step towards bolstering energy storage capabilities in the region.
It said the involvement of Australian Vanadium subsidiary VSUN Energy would entail the seamless installation, commissioning, and ongoing maintenance of the energy storage system.
The project's delivery was set to start in late 2023.
Invinity said the sale of the battery system to VSUN Energy for the Horizon Power microgrid project was part of the base category in its most recently disclosed commercial pipeline.
"Due to their durability, safety and reliability, vanadium flow batteries have a vital role to play in reducing the use of fossil fuels in power generation, particularly in remote communities," said chief commercial officer Matt Harper.
"Invinity is pleased to be supplying our proven and commercialised VFB technology, that has important Australian roots, for VSUN and Horizon Power who are spearheading the use of alternative-to-lithium batteries for energy storage in Australia."
At 0944 BST, shares in Invinity Energy Systems were flat at 48p.
Reporting by Josh White for Sharecast.com.
Invinity Energy (IES)