Member Info for Doyezee

Some big late trades reported which look like buys to me!

Have a good weekend all and hoping for some project news/wins next week! 😎

IES will be find and do extremely well regardless of what does or doesn’t materialise through C&F.

This initial ‘minded to’ has yet again highlighted the huge disconnect between UK government and agencies. Not only did you have the government and King promoting (well almost ordering!) UK agencies to ‘buy British’, you’ve got the chancellor telling everyone to pile into British Stocks and what happens in the initial ‘minded to’ Window 1 of C&F - virtually all of the battery storage projects/capacity are awarded by Ofgem to a VC backed PRIVATE COMPANY!!!!!!! You couldn’t make it up!!! Couldn’t direct a bus down a one way street!!!

GLA

Anyone else notice this big trade from Friday reported around midday today:

29-Jun-26 12:09:57 29.171 17,141 Sell* 5,000 O

26-Jun-26 15:47:35 29.66 2,250,000 Unknown* 667.35k O

29-Jun-26 11:59:46 29.60 50,000 Buy* 14.80k

Some lumpy trades going through at the moment too so just supports that there’s a something brewing!!!

Good post BBN. If we’re looking at Cryptic Clues or joining the dots, I’ve also tuned in to this particular opening line in the response email to me from Joe Worthington at IES:

‘I agree with your assessment that it feels very much like we are at an inflection point towards the "very bright future" you refer to.’

Joe states he agrees that it FEELS VERY MUCH LIKE WE’RE AT AN INFLECTION POINT towards the “VERY BRIGHT FUTURE” I refer to!!!!!

I’m smelling some big news coming!!!!! Just my opinion and spider senses but more than a hunch!!!!!

GLA

Reply to my email from Joe Worthington @ IES:

Hi Richard,

Thanks for the note. I agree with your assessment that it feels very much like we are at an inflection point towards the "very bright future" you refer to.

You're correct about the consultation period following the initial minded to decisions - we're working to support our project partners as they engage in the process. As we said in the RNS on Friday, we believe our solutions align extremely strongly with the aim of the scheme and the UK's Industrial Strategy in general - I think you summarise this well as "back British". Fundamentally, our batteries enable low-cost solar and wind to get onto the grid which in turn lowers bills for consumers while reducing reliance on imported fuel types like natural gas - this ultimately delivers better energy security (or "sovereignty" if you want to frame it that way). Of course, this argument doesn't just apply to the UK, and you've pointed out our recent successes in Europe and the US in your email.

All the best!

Joe

Reply received from Joe Worthington @ IES in quick time which in itself and content are impressive!!!

Appointment of Non-Executive Director

Volker Beckers CBE joins Board of Directors

Invinity Energy Systems plc (AIM: IES), a global leader in vanadium flow battery technology, is pleased to announce the appointment of Volker Beckers CBE as a Non-Executive Director with immediate effect.

Volker is an international leader within the energy industry with a distinguished career spanning over 30 years which includes a decade as Group CFO and then CEO of fully integrated energy company, RWE Npower plc (now RWE). During his tenure, the company undertook a significant transition from coal-based generation to gas and renewable energy sources while remaining one of the UK's largest power generators. Additionally, he has held numerous board chair positions including at Cornwall Insight, a leading UK energy consultancy, as well as at leading digital energy and flexibility focussed businesses Piclo and Reactive Technologies. Volker also held the role of Chair of the Audit & Risk Committee the UK Government's Nuclear Decommissioning Authority. He currently serves as Chair of several other clean and digital energy businesses in both the private and public sector.

Volker is actively involved in the world of academia and policy advisory, currently serving as President of the Board of the British Institute of Energy Economics, a membership organisation focusing on research insight and policy advisory. He has also held guest lecturer and adviser positions with various universities including King's College and Imperial College London. He is a Fellow of the Energy Institute (FEI) and in 2024, was awarded a CBE for his services to the energy / nuclear sector.

Volker joins the Board of Invinity following a rigorous selection and onboarding process led by the Nomination Committee. His appointment has also been endorsed by the National Wealth Fund, pursuant to the Relationship Agreement entered into with the Company in May 2024.

Neil O'Brien, Non-Executive Chair at Invinity said:

"Volker's significant expertise in energy and business will be invaluable to Invinity as the Company continues to progress and expand commercially, operationally and internationally. I am delighted that Volker is joining the Invinity board at a key inflection point for the Company and I am confident that his guidance will bring innumerable benefits as we execute on the global energy storage opportunity ahead of us."

Volker Beckers said:

"Throughout my career in the energy sector, I have seen first-hand the importance reliable, scalable energy storage solutions have in enabling a resilient and low-carbon system. Invinity's technology addresses that need directly, and I am excited to support the company as it moves into its next phase of commercial expansion."

Disappointing ‘minded to’ Ofgem decision

Good morning Joe,

As a long standing and significant retail shareholder in IES (10 years), I cannot underestimate my disappointment, concerns and frustration with the initial decision made by Ofgem with regards to their ‘minded to’ and seemingly biased awards in Window 1 that disregard/misrepresent a balance to VRFB’s and heavily favour Lithium-ion solutions - in particular Field Energy.

The skew in all respects wreaks to me and many other retail investors have voiced the same concerns on the LSE group chat and I’m sure all there at IES must share the same concerns and disappointment.

Will Invinity be addressing this with Ofgem to fully understand and ascertain the facts to their initial decisions in the hope that come the Final awards, IES will win more of the projects or capacity in this Window 1?

With IES being selected for the single smallest 65MW project only which is to be split as a hybrid with zinc batteries, it appears as though it was awarded to VRFB’s just to ‘tick a few boxes’ and pathetically justify ‘diversification’ in different technologies.

How is it that IES has been able to so impressively impress Flexbase and Pacific Steel recently which has resulted in ‘game changing’ project wins for IES yet Ofgem seemed to have completely overlooked/discarded IES’s solution in this initial Window 1 selection?

Given UK government’s and the King’s recent directive to ‘back British’, I am at a loss to Ofgem’s initial awards in Window 1 of the C&F.

It appears as though there will be a further ‘consulting’ period from/with Ofgem in which they’ll seek opinion/information from anyone to investors and energy specialists in this space before making decisions with the Final Awards so I really hope IES will be going all out to secure more of the projects/capacity on offer in Window 1.

At the same time, it’s clear everyone at IES has been working extremely hard and the last couple of years have been transformative. The current and future opportunities around the world and recent contract wins show a very bright future for IES but this recent Ofgem announcement has definitely but temporarily burst that bubble of excitement and expectation!

ATB

It’s yet another example in a line of many of this countries week, useless, pathetic, corrupt, clueless, wasteful, incompetent ‘public servants’ failures.

This country is on its knees with regards to frustrations and failures of successive governments to do the right thing for this country’s people, heritage and opportunity.

Anyone who votes for a mainstream political party has no one to blame but themselves. This political self serving hierarchy, ‘the club’ and biased political system needs to be shown the door once and for all and that only comes with a complete change of mindset, capability, accountability and genuine moral principals.

Excellent letter PMC2022 and I applaud your time, effort and detail in its construction but hold next to no hope that it will make little difference to what Ofgem do or to the consideration they’ll give to it!

There initial ‘minded to’ decision absolutely wreaks of ‘sweeteners’ from the VC backed Field Energy.

Just have to hope IES themselves can get under the hood of why Ofgem appear to have made nothing more than a token gesture to VRFB’s and in particular, IES’s solution.

GLA

I interpret Ofgem’s ‘Financial Assessment’ to be ‘who ever can give us the fattest brown envelopes’

It stinks to high heaven FS!!!!

11 projects of 12 awarded to Lithium solutions and 1 to VRFB. The one awarded to VRFB WAS THE SMALLEST in terms of MW - just 65MW.

IES and its technology been established for more than a decade and has global field projects to back it.

How the hell is this a ‘diversified’ and fair representation of technologies and more to the point, the companies behind them!!!

Someone’s palms have definitely been greased at Ofgem IMHO!!!!!

So Field Energy receive 5 projects from Ofgem of 16 in the initial ‘minded to award’ round totalling 1.6GW whereas Invinity (through Frontier Power) wins 1 project of 65MW.

Field energy awarded almost a third of all 16 projects and surprise surprise, they’re a private Venture Capitalist company!!!!! Doesn’t smell of ‘it’s who you know’ one bit does it!!!!!!!

I hope Invinity are all over this and putting forward strong arguments and questions to Ofgem as to why Field Energy has been awarded such a significant greater share of projects/capacity than it has!

Let’s hope that they can persuade Ofgem to reconsider ahead of Final Decisions

Https://apple.news/AzVw_3G_WSle4EOz54Mzx5Q

Invinity mentioned in this article. Contains a link to the summary report of Ofgem’s ‘minded to’ decisions

Perhaps Ofgem need to speak to Flexbase and Pacific Steel to understand why they chose Invinity’s VRFB solution to Lithium-ion!!!!!! I’m sure management at those two companies will have a far greater understanding of the market than anyone at Ofgem does!!!!

Grid-scale lithium-ion batteries typically last 10 to 15 years. In terms of usage, they are usually rated for 3,000 to 8,000 charge-discharge cycles or a specific throughput of delivered megawatt-hours before their capacity degrades to 70–80% of its original state

Grid-scale Vanadium Redox Flow Batteries (VRFBs) typically last over 20 years and can handle 10,000 to 20,000+ charge/discharge cycles with almost no capacity degradation. Unlike lithium-ion, their liquid electrolytes do not degrade over time, giving them a virtually unlimited calendar life

Looks like it’s the blind leading the blind at Ofgem to me but that’s no surprise is it!!!! What government body, regulator or watchdog in this country has a bloody clue what they’re doing!!!!!!!

Generation Costs (LCOE): The cost to produce a megawatt-hour (MWh) of electricity from utility-scale solar and onshore wind is frequently half—and sometimes up to 70% cheaper—than the fossil-fuel alternatives. In fact, the International Energy Agency highlights that onshore wind and solar PV are the most affordable sources of new electricity generation globally.

Electricity Generation Costs (LCOE)The standard metric used to compare energy costs is the Levelised Cost of Energy (LCOE), which measures the lifetime cost of building and operating a power plant per megawatt-hour (MWh). According to global financial benchmarks from Lazard's LCOE+ reports and the International Renewable Energy Agency (IRENA):Utility-Scale Solar PV: ≈ $23 to $38 per MWh.Onshore Wind: ≈ $31 to $50 per MWh.Oil-Fired Power Plants: ≈ $150 to $250+ per MWh (highly dependent on volatile crude oil prices).Because petroleum is a premium, energy-dense liquid, it is economically inefficient to burn it for grid electricity. As a result, oil accounts for less than 1% of power generation on modern electricity grids, which rely on cheaper natural gas, solar, and wind

https://www.lazard.com/research-insights/levelized-cost-of-energyplus-lcoeplus/

https://www.reuters.com/business/energy/around-90-renewables-cheaper-than-fossil-fuels-worldwide-irena-says-2025-07-22/

Just for you ilovesushi…..

Generation Costs (LCOE): The cost to produce a megawatt-hour (MWh) of electricity from utility-scale solar and onshore wind is frequently half—and sometimes up to 70% cheaper—than the fossil-fuel alternatives. In fact, the International Energy Agency highlights that onshore wind and solar PV are the most affordable sources of new electricity generation globally.

Electricity Generation Costs (LCOE)The standard metric used to compare energy costs is the Levelised Cost of Energy (LCOE), which measures the lifetime cost of building and operating a power plant per megawatt-hour (MWh). According to global financial benchmarks from Lazard's LCOE+ reports and the International Renewable Energy Agency (IRENA):Utility-Scale Solar PV: ≈ $23 to $38 per MWh.Onshore Wind: ≈ $31 to $50 per MWh.Oil-Fired Power Plants: ≈ $150 to $250+ per MWh (highly dependent on volatile crude oil prices).Because petroleum is a premium, energy-dense liquid, it is economically inefficient to burn it for grid electricity. As a result, oil accounts for less than 1% of power generation on modern electricity grids, which rely on cheaper natural gas, solar, and wind

https://www.lazard.com/research-insights/levelized-cost-of-energyplus-lcoeplus/

https://www.reuters.com/business/energy/around-90-renewables-cheaper-than-fossil-fuels-worldwide-irena-says-2025-07-22/

Https://apple.news/AUihV310dTFCCrSoG1oNXIg

And what do Ofgem do?!!!!!!!!!!!!! Sit on their hands and ponder instead of being bold, positive and ambitious.

Fossil fuels massively contributing to global warming, energy failure, economic inefficiency and along with conflict causing a problem to to the world’s ’energy supply’, there could not be a clearer message to get on with the renewable transition.

Grow some balls and do the right thing for once in your useless lives Ofgem!!!!!!

Ilovesushi has decided to pipe up again!!! Where were you on the rise all the way to 40p???????

Ignore this clown, he thinks the world will end tomorrow!!!! Proper Debbie Downer!!!

IES SP is now up just 35% approximately since it announced the Flexbase win and of course Pacific Steel followed soon after. That increase in no way reflects the magnitude and significance of those 2 project wins, let alone anything else going on with C&F and behind the scenes.

Fortune favours the brave and those brave enough to invest significantly in IES will be well rewarded IMHO.

Not financial advice of course and make sure you DYOR.

GLA

No doubt a few ‘brown envelopes’ dished out to our government/agencies most probably but that’s a world we’ve been living in for decades!!!!!! Won’t be enough to stop IES’s global march though.

GLA