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Equinor to resume $5bn Empire Wind project widely reported in the media today. A positive sign for renewables in the USA - and indirectly for Invinity too.

FS

And note this comment from the Reuters link:

"Over the past nine months, undocumented communication devices, including cellular radios, have also been found in some batteries from multiple Chinese suppliers"

FS

See this Reuters Link:

https://www.reuters.com/sustainability/climate-energy/ghost-machine-rogue-communication-devices-found-chinese-inverters-2025-05-14/

FS

Thanks bonxie

FS

Hi bonxie

Just for my education:

On your point about full discharge. I agree your statement about staying "in range" for optimum performance for both VRBs and LIBs. I thought the point was for a VRB a deep discharge is safe, just less efficient - but for a LIB, a deep discharge also degrades the battery and shortens its lifespan.

And on your other point I had thought that to increase energy capacity (e.g., going from 4 to 12 hours of discharge) - for a VRB you just add more electrolyte — no need to touch the stacks or the power electronics (although not sure if this can be done with Endurium). While for a LIB each cell contains both energy storage and power-handling capacity so to increase energy, you must add more cells, which also increases power capacity, whether you want it or not.

Am I wrong - have I lost the plot (which could well be true)?

Thanks

FS

The pilot battery installation glowingly referred to in this article is from Invinity.

https://discoveryalert.com.au/news/vanadium-battery-project-kalgoorlie-2025/

FS

SimonV:

Don't think so - for example the press release for the project you reference says things like ... "Invinity has acquired a 25-year lease over the project site through a special purpose vehicle. The lease can be extended by 15 years at its option, and the site has an existing approved 5.5MW grid connection and planning for a solar array and battery energy storage system (BESS)".

And there are other inconsistencies with the Hawkhurst project.

More waiting I'm afraid.

FS

A couple of emails in my inbox this morning from Gov.UK:

- Build it in Britain: invitation to clean energy developers and investors; and

- Prime Minister launches major boost for UK clean energy industry

Link is here (scroll down): https://www.gov.uk/government/organisations/department-for-energy-security-and-net-zero

Looks promising for Invinity's future.

FS

Hi Theoldtrader

Thanks for the swift reply. I think your swinging door comment summarises the Frontier / Invinity agreement accurately and well. No further comment needed from me.

Enjoy your break.

FS

Hi Theoldtrader

You say - Invinity holds an agreement giving it the right of first refusal to supply up to 2 Gigawatt-hours for Frontier's initial UK LDES projects ...

But the relevant RNS says - Frontier Power has reserved up to 2 GWh of the Company's manufacturing capacity, on a right of first refusal basis. And to me this means that Frontier Power has the right of first refusal not Invinity. In other words, Frontier has the option, but not the obligation to purchase up to 2 gigawatt-hours (GWh) of energy storage systems from Invinity.

Am I wrong?

FS

At 13.00 and 13.07 today there were two share transactions totalling approx. 1.5 million shares at 12.25p (mid bid / offer prices at the time) shown on the LSE. These two trades are not currently shown on this board. Why would that be?

FS

Hi Oldtrader

Thanks for the reply.

If Invinity can close some of the opportunities you have identified on this board, we will all make some money at last. I am hopeful, but more twists and turns to come over the next year I suspect.

Fingers crossed.

FS

Hi Theoldtrader1

The £3m you refer to was part of the £57 million fundraising initiative completed in May 2024. Correct?

FS

Sairfecht:

The battery site location will factor heavily into insurance I guess. And of course people don't necessarily buy what they prefer, they buy what they can afford, as in this case.

Having said that I believe Invinity and Endurium will do well - and I am heavily invested here. And if I could be granted one wish - it would be for an experienced marketing presence on the Invinity Board.

FS

Careless me s/b IES.

FS

Hi Theoldtrader1

Just to clarify (maybe)...

Prime Batteries and the Romanian project seem to be for Lithium ion not Vanadium (see here):

https://www.romania-insider.com/prime-batteries-hidroelectrica-april-2025

So, Prime hopefully not a competitor for EIS.

FS

Maybe. Or maybe there will be a lot of lithium ion grid batteries, originally destined for the USA, now flooding into other markets - and likely going cheap.

FS

There is an interesting article in today's FT about the impact of tariffs on the renewables infrastructure industry in the USA. Generally, the impact of tariffs is negative as so much equipment is overseas sourced, of course.

But two interesting numbers for grid batteries. Firstly, 90 per cent of lithium-ion energy storage cells used in Lithium-ion grid batteries in the US originated from China. And secondly, the impact of the recent tariff hikes together with previously planned tariff increases announced by the Biden administration will bring total duties on Chinese cells up to 82.4 per cent in 2026.

Oh, and there are limited internal US manufactured battery suppliers.

FS

On Friday at the close on the LSE there was a huge UT of over 3 million shares at a price in excess of the "ask" price. Does this indicate a strong interest or demand for the stock or is there a possible mechanistic explanation?

Views / answers welcome

FS

My friend ChatGPT said:

Synthomer's Adhesive Solutions division in the United States sources a significant portion of its raw materials through imports.

U.S. Customs records indicate imports from Synthomer's facilities in Europe, such as Synthomer Deutschland GmbH and Synthomer Middelburg B.V.

But while these records confirm that Synthomer imports raw materials for its U.S. adhesives division, the exact percentage of imported supplies relative to total raw material usage isn't specified in the available data. Synthomer's annual reports do mention supply chain complexities and efforts to address related issues but don't provide detailed figures on the proportion of imported materials.

No good news here for Synthomer, I suspect.

FS