The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
racing lad, good find. What impressed me was how the Pivot guy was impressed by VFBs. Whether this translates in to more use of VFBs in Pivot's future similar projects, I believe there are 40 planned, only time will tell but IES must be in pole position with Pivot right now.
Can't be long now before we hear more about Pivot's projects or the conversion of some or all of IES's inventory in to orders.
I believe that the site has been live for some time and this headline news is about its' official opening.
I seem to remember either in a conversation with IES or a snippet in a podcast that Pivot was thinking of increasing the ratio of VFBs to lithium in future projects as they were so impressed with their performance. Whether this turned out to be the case or not only time will tell but I wouldn't be at all surprised.
Good publicity in the RNS and I'm hoping for follow on news from this or the conversion of some or all of our inventory in to cash via orders.
Surprised the SP has reacted more positively.
https://www.utilitydive.com/news/brand-new-problem-california-grid-operator-long-duration-storage/621637/#:~:text=Around%203%2C100%20MW%20of%20energy,Commission%20(CEC)%20workshop%20Tuesday.
I think in the last presentation where Larry said that part of the operation was about trading electricity at Oxford and, in fact, it was RedT's experience and expertise in this area that made the merger compelling.
Makes lots of sense to buy electricity at night, even if it's from the Grid, when prices are very low and sell it at peak times if you have a surplus. If it makes sense when you are buying from the Grid, as in Oxford, how much more sense does it make if you have a wind farm at your disposal.
If they can stay afloat, and looks like they have adequate funds fo at least a year, then this looks like a real winner but we've been saying that for how long?
Most of interest was the first 6 minutes but, as you say Agricore, IES is not alone in being battered. The rest of the podcast included lots of stuff about the whole sector being clobbered.
Interestingly they thought that the cash in the bank and the cash that should be generated by the sales in the immediate pipeline, which should come through this year, will see IES through to the end of 2023 and a lot should happen in that period. I agree so I'm not that worried about about another fundraise unless they need to get money to finance some big order which could be a possibility next year. Thats the sort of fundraise we should welcome though.
I don't think the space needed is much of an issue even here. Lithium batteries occupy a lot of land when used and need to be separated due to fire risk. VFBs on the other hand can be stacked and built very close to each other. Very suitable for OZ and the US though, I agree.
Good presentation. It was always going to contain jam tomorrow but it really looks like they are powering ahead for real. They said that they expect to be cash neutral or cash positive later this year.
The hookup with Siemens will transform the company IMHO. They are already receiving firm interest from large projects which they cannot meet with the current module.
We've said it before but patience is the king here but it really does look like they are on their way.
https://invinity.com/investor-resource/webinar-fy21-results-presentation/
The recent presentation can be viewed here
https://www.youtube.com/watch?v=mKc7tbJdBU8
I've just got this from the IES new investor portal.
https://soundcloud.com/user-596578261/vsa-capital-tech-transitional-energy-090622
You have to register as far as I can see. They talk about IES at about 7 minutes in. It mainly talks about the American market for storage and what IES might achieve there. I can see why IES are busy trying to portray themselves as more American as there's lots of emphasis, not to mention grants etc, in awarding contracts to American companies.
Nothing really new but it gives some insight in to what might be IES's thinking.
Interview with Sara Barrington
https://www.**********.co.uk/articles/verici-dx-interview-with-ceo-sara-barrington-c2bbfd2/
Why would renewables companies buy storage when they are paid huge sums not to produce electricity when not needed? Constraint payments. There are other reasons to use storage but constraint payments need no additional investment and are simple to manage.
Nobody doubts the necessity and scale of storage while we pursue Net Zero but the question is "Can IES grab a sufficient share to make it highly profitable?" At the moment their progress in that direction have been unimpressive.
It's strange that nobody mentioned a takeover of HUR. With the renewed interest and Governmental attitude, suddenly the NS, and I include WOS in that, is being viewed favourably again and I would have thought at least BP, who are present not far away, would at least be looking at HUR.
We have been told that the Californians, in particular, are increasingly aware of the fire risks attached to lithium. Is this just a line from Larry? If true then we should see some purchases in that region. If not.................
Unless it is a trade that is quickly cancelled but doesn't say so. It didn't have any positive effect on the SP though. Strange but we still haven't had much positive news regarding actual orders. In this business climate I find that very negative.