Member Info for Doyezee

2025 Financial and Operational Highlights

· Revenue and Other Income of £8.7m and Project Grants* of £9.1m, totalling £17.8m (256% increase YoY - 2024: £5.0m).

· Sales of 31.4 MWh (504% increase YoY - 2024: 5.2 MWh).

· Product shipments totalling 24.9 MWh (241% increase YoY - 2024: 7.3 MWh).

· Gross Loss of £2.9m (17% reduction YoY - 2024: £3.5m).

· Total cash as at 31 December 2025: £28.8m (2024: £32.4m).

· The Group remains debt free.

*For all references to "Project Grants", please refer to Note 31 in the notes to the consolidated financial statements

Strategic Highlights

Cost - on target to achieve a forecast minimum 66% reduction in unit costs for Endurium versus our VS3 product within two years. Aggressive cost reduction achieved 18 months ahead of initial management expectations.

Customers - Tripled battery shipments from our factories against a backdrop of high-quality service delivered to our customers as evidenced by numerous public and private endorsements received.

Commercial - Six-fold increase in sales year-on-year, including the first sale of our new Endurium Enterprise product, and expanding our partnership network to gain access to some of the world's fastest growing markets (including India and China). Endurium has been included in 16.7 GWh of UK LDES Cap & Floor bids and our wider commercial opportunity pipeline also continues to grow, driven by improved product costs and performance and now contains a number of highly significant commercial, industrial and datacentre opportunities across Europe, North America and Asia.

Track Record - 9 GWh of energy has been dispatched by our products globally to date. Projects using our batteries are now increasingly backed by third party lending and we have continued to improve our bankability credentials through third-party technical studies and validation.

Scale - Manufacturing capabilities were expanded during the year as well as enhancing our quality control and supply chain functions.

Post Period:

· Invinity selected to design a 1.5 GWh VFB system for FlexBase Group project in Switzerland. Engineering design phase of the project now underway.

· Delivery of all VFBs to Copwood VFB Energy Hub completed in May 2026 ahead of anticipated grid-connection and the commencement of operations later in 2026.

· 2 MWh sale to a C&I project in Wisconsin, USA as part of a U.S. Department of Energy-funded project.

The Company's 2025 Annual Report will soon be available to be downloaded from the Investor section of the website.

Jonathan Marren, Chief Executive Officer at Invinity said:

"I am immensely proud of the progress delivered across Invinity during 2025 and into the current year. The results reflect a business that has deliberately invested in its foundations and is now clearly entering a new phase of accelerating growth.

"Over the past year, we have taken meaningful step

Excellent RNS supported with another sale to the US.

All numbers signalling early signs of strong growth to come with cash burn YoY just 10% and still debt free with foundations in place for the ‘strong growth’ ahead.

GLA

Interesting read and just another example of how clean energy/battery storage is being adopted and focused on more widely

https://apple.news/AM_JLpel_Qx6QR1UDcsl6gg

Reminder of the RNS released in February for any new comers re IES developments/opportunities in the US:

https://markets.ft.com/data/announce/detail?dockey=1323-17447259-7O7ERHLJQF6CN69OKL9LKJMO9O

Who is else is better positioned than/has a superior offering to IES in LDES?

There has been a strong directive from UK Government to Civil Servants for UK economy contracts in general to be awarded to UK companies to promote growth and jobs here in the UK and when you take national security in to consideration too, IES has to be a strong contender to win a significant number of Cap & Floor projects IMO. Can’t say how many but personally, I think 1 in 4 is way too low. Can’t see why they couldn’t win at least 50%, possibly more but none of us know and we’ll hopefully get some news soon that will clarify which of the Endurium projects have succeeded in the project assessment phase.

GLA

PMC2022 - What makes you feel ‘surprised’ if IES secures no more than 500 MW in window 1 of Csp & Floor? If this is approximately 4 GWh, it is just 25% of the 16.7 GWh of project bids that Endurium has been selected for and of those projects, all but one are deliverable in Track 1 by 2030?

Endurium has been selected for more than half of the total GWh of projects that have moved to the project assessment stage having met initial requirements.

I think you're being far too conservative but time will tell.

From 23/9/25 RNS:

All but one of the confirmed eligible projects are in Track 1 of the Scheme which are deliverable by 2030. Track 2 projects are deliverable by 2033.

The announcement notes that 171 valid applications representing 52.6 GW of discharge capacity were initially received by Ofgem by the submission deadline of 9 June 2025. The announcement confirms that 77 projects, with discharge capability totalling 28.7 GW for a minimum of eight hours, have met the programme criteria and are therefore eligible to progress to the project assessment stage.

Up and running in the US I meant to say

Good post Magical Hat and just to add, IES expects to have its manufacturing facility up and running by the end of 2026 and we have strategic partners in China too!

Oh dear Tungsten. Missed the bounce?!!!!

Even if Invinity needs to raise capital, it will be done in a very positive environment and could actually see the share price move up. Regardless, I’ll use any such opportunity to buy more if any new shares linked to a raise are made available to existing retail holders.

Topped up with another £6k earlier this week and got another £15k sitting in the ISA ready to buy more on any capital raise.

Not worried when the next big contract is announced but I have strong belief that it won’t be very long (Cap and Floor for starters) and there’ll be many more after that.

GLA all genuine and LTH of IES

The Financial Times (FT) calculates the average daily trading volume of a share price over a 30-day period. This metric aggregates the total number of shares traded over the last 30 calendar days and divides it by the number of active trading days within that timeframe

Just for you Phimx!!!! 😉

PMC2022, Financial Times online IES Summary states 12.23 million SHARES were traded yesterday and that the average daily volume stood at 7.2 million.

As highlighted by FS, number of trades and the size of some has also significantly increased which is clearly bullish.

GLA

12 million shares traded today against a daily average volume of 7 million.

GLA

Christ Bamps, did you stand this person up at the Altar or something!!!!! 😬

Great post economist, thank you.

India’s grid is incredibly unstable and with it being an ever developing country economically and with so many citizens, power continuity and back up will be absolutely critical there.

As you say, the potential is massive!!!!!

GLA

More than 11 million shares traded yesterday, nearly double the daily average and of that, a good 3-4 million shares reported after close!

Have a great bank holiday weekend in the sunshine all genuine and LTH of IES.

Looking forward to next week, the week after that, the month after that, the years after that!!!! 😁

LOL legend. Jog on with your deramp. Anyone who truly knows what’s going on with IES and in the world won’t be selling!!!! This is just the beginning and the SP will be many multiples of what it is today in the short, medium and long term

Great to see you here SelsdonMan and genuinely wish you the very best of luck with your investments.

I’ve been invested here for 10 years since the RedT days and it’s been a long painful wait for this day but I believed in the tech and its future and averaged down all the way.

Today is the day I’ve been waiting for and I’m not selling a single share. All sitting in ISA and could well be my entire retirement fund.

GLA to all genuine and LTH of Invinity

For anyone who saw more post first thing this morning (which has now been removed!!), Invinity Energy Systems now up over 50% this morning!! Just saying!!!!

Good luck with that Tungsteninvestor but you’ll regret selling at 30p!!!!!!!