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The last couple of minutes contained an astonishing soundbite. Harper related that Gamesa have said to him that, if the next generation that is beginning to be piloted can be made to work and scale up, they can sell all that IES can produce. With Siemens ability in large scale engineering behind this project, that is an almost limitless amount of battery capacity that can be sold.

In an earlier podcast IES have said they are already very confident about Mistral's technology so I'm pretty confident about the outcome of the pilot project. It's just a question of fine tuning to give optimum performance and to see what the units are capable of. We've heard of one of them and we have been told to expect more to be announced this year with full commercialisation next year.

This on top of the order pipeline for the existing battery makes the next 12 months look very exciting.

Here it is in a news alert

https://polaris.brighterir.com/public/invinity/news/rns/story/x8moypw

More on the subject.

Https://newsdirect.com/news/reducing-fire-risk-for-battery-energy-storage-systems-and-electric-vehicles-381244668

Haven't done any research in to the company but, from the link, it looks like they are still in the R&D stage. IES are miles ahead.

Everywhere you look on the RNS's and reports you find huge potential, with pilot projects, testing etc and initial orders everywhere. I thought that 2023 would be the making of IES but, with the aforementioned, 2024 could be the year of mega orders and probably breakeven/profit. 2023 has been good so far and will probably get even better but for me the big returns will be next year.

Just had a quick tot up of the population covered and it turns out to be over 50mn so the potential Diabetic market is around 10 million.

A very high percentage of diabetics in the population in the area at 20% compared with US at just over 11% and the UK at 6%.

RENX just went international.

Very positive RNS which reinforces Larry's claim a few months back that 2023 would be a pivotal year for IES. Strong increase in sales with a growing pipeline. The sale to Bulgaria is interesting in that I can't believe IES's salesforce is trawling that part of the world so the Bulgarians must have come to IES which means IES's reputation and VFB's are growing in the wider space.

What's not to like in this RNS?

Thanks for that pekingduck. We discussed the need for further funds a week or so ago and we thought that IES would, despite having funding lasting to up to June next year, go to the Market about 3 months or so earlier than that. It was also mooted that is would most likely be the last fundraise they would need. That might have been optimistic somewhat in view of the large orders expected that would need financing but you have to take a view somewhere.

Unfortunately for IES they are on AIM which has been great for small early stage companies to raise money via IPO's but is turning Carp for ongoing investment sentiment. AIM was initially a bit of a Wild West market when it started and investors were willing to take risks but now, especially with the general economic background, that willingness has wilted and caution is the byword today. At some stage , IES will be forced to list on NASDAQ for exposure to the more risk taking environment of the States IMHO.

Although the SP is disappointing, the company itself is doing very well and fulfilling it's promise to make 2023 it's pivotal year. I suppose you could say that value will ultimately come through but it's very frustrating waiting.

Conversely IES is up slightly today on the American market.

Never mind being on a ferry. If you want to worry think about batteries catching fire on a plane. Most major airlines carry a box for this eventuality. If you can get the device in the box, it should be OK. It's why airlines forbid battery powered item to be stored in the hold. Not a big problem for the vast majority of the time but accidents do happen. Battery fires are very rare but there is a risk like most of life.

Yes, nice increase this week so far. Dare we hope that the 40s are behind us?

I'd have to go back to the presentation for that bit but they might just be looking for manufacturing partners in the US rather than building factories.

As far as further funding is concerned, IMHO it is near certain that they will go for further funding in Jan - March next year. They are not going to be cash positive by then and they won't wait until June to raise money. The upside of that is that Larry said they had companies eager to invest/become partners so it won't be a distress raise I don't think. By next year I would hope that the SP would be a lot further north than now so it won't be that painful for us. Also think that this would be the last fundraise they would need.

Only my opinion of course.

The thing about the difference between Mistral and VS3 is that they address different needs. VS3 is not suitable for large grid uses whereas it is better for small scale bespoke requirements that Mistral would be. The 2 entities can be sold and marketed in separate areas of the storage market without competing with each other. Sounds great.

Just my quick take on the presentation.

Revenue ramping up this year and next. When IES gets to 2025 the revenue explodes it looks like. The scale of the business will be way beyond the present day as Mistral kicks in and off.

In the meantime the existing system is very profitable said Harper and fills a niche that Mistral won't\can't and visa versa so they will run side by side very happily. Interest in both products has taken off and, instead of touting the product around, customers are coming to IES. Pipeline looks enormous although Mistral occupies the more distant pipeline which of course boosts the numbers. More pilots envisaged but I can't remember if they said this year. I think they did.

The overall feeling was one of excitement and anticipation as well as confidence in Mistral. The overall storage market is taking off so IES will have the right product at the right time it seems.

The presentation will be available as a recording and is well worth viewing IMHO.

The only downside I can see is waiting for the big transformation of the company in a couple of years will not appeal to everybody but, when the potential is evaluated by many there should be a significant revaluation in the shorter term anyway IMHO.

My opinion only.

Apart from her extensive financial experience and expertise in the running of medical companies, imagine how many contacts and people in her network she has.

What has been the actually trading in the States today?

Not surprised at the bit of a sell off at the end but overall the week has gone well. It looks like lots of the day traders have mostly withdrawn so a steady climb might be on the cards. Let's see what next week brings.

Funding is always an issue with companies at this stage of development and before. It's a big concern for investors but it takes away our focus on what we have and what is likely in the future. RENX has a groundbreaking product that nobody has and it's now cleared the important hurdles for acceptance in the very conservative healthcare sector. The demand is clearly there and it is potentially enormous. The future potential worldwide is too big to evaluate and it is very probably, IMHO, the present management and company structure will not have the ability to fully fulfil that potential so it needs a very big boy to take the product there. McCullough is very good but he's an entrepreneur by inclination and ability so he will need to pass the potential on at some stage. A person who heads other companies has said within my earshot that McCullough is the best CEO he has ever seem and that's good enough for me. He will take the company far and then hand over the reins.

So we have a fully useable and accredited world beater and a probably takeover candidate is the way I see it. Like so many companies on AIM, you have to take the longer view.

Only my opinion of course so do your own evaluation.

It looks like the MM's are restricting buys to 10K as you say.