Last checked at 28 Jul 2023 07:00
28 July 2023
Invinity Energy Systems plc
("Invinity" or the "Company")
0.2 MWh Pilot Project with Australian Energy Utility
Invinity VS3 battery will be evaluated by Horizon Power, Australia's largest regional energy provider, for long duration energy storage microgrid projects
Invinity Energy Systems plc (AIM: IES) (AQSE: IES) (OTCQX: IESVF) a leading global manufacturer of utility-grade energy storage, is pleased to announce the sale of a 0.2 MWh Invinity VS3 flow battery system to VSUN Energy ("VSUN"), a wholly owned subsidiary of Australian Vanadium Limited (ASX: AVL), for use by leading Australian power provider Horizon Power ("Horizon").
The microgrid project will see Horizon, a state government owned energy utility company responsible for generating, procuring, distributing and retailing electricity to residential, industrial and commercial customers across Western Australia, evaluate the role that Invinity's vanadium flow batteries can play in reducing fossil fuel consumption for distributed electricity networks. Horizon owns and operates 34 microgrids, serving over 100,000 people and more than 10,000 businesses across Western Australia.
The battery will be located at a Horizon power site in Kununurra, Western Australia. VSUN will undertake the installation, commissioning and ongoing maintenance of the energy storage system. Delivery is expected to commence in late 2023. The contract was included as part of the Company's Base category in its most recently disclosed commercial pipeline.
Stephanie Unwin, Chief Executive Officer at Horizon Power said:
"Long duration energy storage provides backup power during times of peak demand or when the power supply is interrupted, storing high volumes of excess energy when demand is low and the ability to shift energy storage into the night. It can also minimise the need for costly fossil fuel generation and grid infrastructure upgrades.
The VFB is specifically designed to deliver large amounts of energy over a long period of time and is temperature resilient - which is critical for our unique regional and remote networks.
This is an exciting trial which will allow us to increase our understanding of the technology in a regional energy system and its ability to provide long periods of 100% renewable energy."
Graham Arvidson, Chief Executive Officer at Australian Vanadium said:
"This is the first contracted VFB project for an Australian energy utility. VSUN Energy has been actively pursuing opportunities for VFB deployments and is seeing an increased interest from all energy sectors for this proven, commercialised and effective energy storage technology which uses vanadium at its core. Horizon Power has chosen to be one of the early movers in Australia in support of a technology game changer for the many microgrids in the country. Horizon Power's support of the VFB technology will also assist AVL and VSUN Energy's planned vertical integration "pit to battery" strategy. Future VFB projects in Australia will not only be deployed locally, but have significant local content, including AVL's vanadium electrolyte from its plant which is currently under construction in Wangara, Western Australia."
Matt Harper, Chief Commercial Officer at Invinity said:
"Due to their durability, safety and reliability, vanadium flow batteries have a vital role to play in reducing the use of fossil fuels in power generation, particularly in remote communities. Invinity is pleased to be supplying our proven and commercialised VFB technology, that has important Australian roots, for VSUN and Horizon Power who are spearheading the use of alternative-to-lithium batteries for energy storage in Australia."
Stay up to date with news from Invinity. Join the distribution list for the Company's monthly investor newsletter here.
Enquiries:
Invinity Energy Systems plc | +44 (0)20 4551 0361 |
Jonathan Marren, Chief Development Officer and Interim CFO Joe Worthington, Director of Communications | |
Tavistock (Financial PR Advisor) | +44 (0)20 7920 3150 |
Simon Hudson / Charles Baister | invinity@tavistock.co.uk |
Notes to Editors
Invinity Energy Systems plc (AIM: IES) (AQSE: IES) (OTCQX: IESVF) manufactures vanadium flow batteries for large-scale, high-throughput energy storage requirements of business, industry and electrical networks.
Invinity's factory-built flow batteries run continually with no degradation for over 25 years, making them suitable for the most demanding applications in renewable energy production. Energy storage systems based on Invinity's batteries are safe, reliable, and economical, and range in size from less than 250 kilowatt-hours to tens of megawatt-hours.
Invinity was created in April 2020 through the merger of two flow battery industry leaders: redT energy plc and Avalon Battery Corporation. With over 65 MWh of systems already deployed or contracted for delivery across over 70 sites in 15 countries, Invinity is active in all major global energy storage markets and has operations in the UK, Canada, USA, China and Australia. Invinity Energy Systems plc is listed in the UK on AIM and AQSE and trades in the USA on OTCQX.
To find out more, visit invinity.com, sign up to our monthly Investor Newsletter here or contact Investor Relations on via +44 (0)20 4551 0361 or ir@invinity.com
About Reach announcements
This is a Reach announcement. Reach is an investor communication service aimed at assisting listed and unlisted (including AIM quoted) companies to distribute media only / non-regulatory news releases into the public domain. Information required to be notified under the AIM Rules for Companies, Market Abuse Regulation or other regulation would be disseminated as an RNS regulatory announcement and not on Reach.