RE: going up29 Jan 2022 17:48
Invinity still have R&D activities, as stated in the RNS of 11 may. They also still have cash from the placing, so I'm sure the staff are busy. However, there is not even a hint of any sales, which is very worrying. I think Fridays action may have been funds further selling out. If you look at the chart, it is quite worrying now, the only lower support is back to the IPO (spike), which is about 50p. If that goes, then this could head for 20p. Not sure if I would buy yet. As I said, sure they have things to do, but perhaps not for any purpose.
The US $4M isnt much money either, but they might have grant funding from governments on top of that (plus revenue). No announcement of the relationship blossoming either. Getting on for a year now...
Maybe they are hunkering down, just trying to progress the IP, to yield a better price, if this ends up being distressed sold.
This looks very shaky now.
· jointly develop a grid-scale vanadium flow battery ("VFB") based on Invinity's proven technology and incorporating Gamesa Electric's advanced power conversion systems;
· cooperatively manufacture the VFB upon achieving a jointly validated design; and
· commercialize the VFB through each company's sales channels.
The JDCA sets out a detailed development program for the next-generation VFB that is expected to take approximately two years to reach commercialisation. Over this period, Gamesa Electric has agreed to fund an aggregate US$4.62 million of Invinity's activities within the joint development program, payable as development milestones are met.