RE: RNS28 Jun 2023 07:45
This is the plan it's profitable and it's ready now
But even the most valuable assets need to be purchased and financed - so cost matters, and Invinity made significant advancements in 2022. Product design simplifications, new supply chain partners and new, more streamlined facilities have decreased our production costs, allowing us to sell at prices that contribute to our bottom line while keeping customer business cases resoundingly positive. We have also worked to further decrease the costs our customers incur to operate and maintain our products over a service life measured in decades rather than years, truly maximizing their return on investment. And perhaps most importantly, the focus on full lifecycle cost reduction has set the stage for our next generation product, code-named "Mistral", whose fundamentally simpler, lower-cost design will allow us to compete directly with the most aggressively priced energy storage systems on the market.
Finally when we think about proof, we have made significant leaps in giving new partners - be they customers, financiers, resellers or regulators - confidence that our batteries are the right solution for solving the toughest problems on the electric grid. Not only have we implemented data analytics and reporting tools that show our existing customers how our products are befitting them both in real-time and in aggregate, but we have developed assets such as a bankability report from global assurance and risk management leader DNV to prove how Invinity's vanadium flow batteries deliver as expected.
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