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Pin to quick picksInvinity Energy Regulatory News (IES)

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0.5MWh sale in California, USA

17 May 2021 07:11

RNS Number : 7590Y
Invinity Energy Systems PLC
16 May 2021
 

This announcement contains inside information

 

17 May 2021

 

Invinity Energy Systems plc

 

("Invinity" or the "Company")

 

0.5 MWh sale in California, USA

 

Invinity Energy Systems plc (AIM:IES), manufacturer of vanadium flow batteries delivering renewable energy on demand, is pleased to announce that it has concluded contracting on another project awarded funds by the California Energy Commission (CEC). This follows the Company's announcement in Q4 2020 that it has been selected for a number of projects funded by the CEC, California's primary energy policy and planning agency.

 

Invinity has entered into a contract with Webcor, a leading Californian construction firm, to provide a vanadium flow battery (VFB) for a project developed by Indian Energy LLC, a 100% Native American-owned utility-scale and microgrid development and systems integration firm with approximately 4 GW of solar PV and wind and 6 GWh of energy storage projects under development.

 

The project, located on a US Marine Corps base in Southern California, will couple three of Invinity's VS3 vanadium flow batteries with solar PV to provide resilience and energy security in the case of Public Safety Power Shutoff (PSPS) events, wildfires or other outages. The Invinity system will apply recent technological advancements developed by Invinity's team to extend battery storage duration to up to ten hours with an option to operate in either grid-connected or off-grid modes. This ensures round-the-clock energy resiliency for the site while reducing overall energy costs through demand shaving and Time of Use (TOU) energy shifting.

 

The 0.5 MWh system is expected to be delivered during Q4 2021 and to contribute revenue of approximately £450,000 to the Company, relating to the Invinity VS3 vanadium flow battery, ancillary components and associated services.

Larry Zulch, Chief Executive Officer at Invinity said:

 

"This project has an importance to Invinity greater than its size would imply because of those involved with it. We are thrilled to be working with Indian Energy LLC and Webcor, and appreciate the California Energy Commission's support for a distributed, robust electrical network. We anticipate that this project will be successful in opening further opportunities to deliver clean, resilient power to customers in California and beyond."

 

Enquiries:

 

Invinity Energy Systems plc

+44 (0)204 551 0361

Larry Zulch, Chief Executive Officer

 

Peter Dixon-Clarke, Chief Financial Officer

Joe Worthington, Director of Communications

 

 

 

Canaccord Genuity (Nominated Adviser and Joint Broker)

+44 (0)20 7523 8000

Henry Fitzgerald-O'Connor / James Asensio / Angelos Vlatakis

 

VSA Capital (Financial Adviser and Joint Broker)

Andrew Monk / Simon Barton

+44 (0)20 3005 5000

 

 

 

Hudson Sandler (Financial PR)

Nick Lyon / Nick Moore

+44(0) 207 796 4133

 

Notes to Editors

 

Invinity Energy Systems plc (AIM:IES) manufactures vanadium flow batteries for the large-scale energy storage requirements of businesses, industry and electricity networks.

 

Developed specifically for high-utilisation applications, Invinity's highly scalable, factory-built flow battery products make low-carbon renewable generation reliable and can run continually with no degradation, charging and discharging for over 25 years. 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 10MWh of systems deployed to date across 40 sites in 14 countries, Invinity is active in all major global energy storage markets and has operations in the UK, Canada, USA, China and South Africa. Invinity Energy Systems plc is listed on the London Stock Exchange.

 

To find out more, visit invinity.com or call Investor Relations on +44 (0)204 551 0361.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
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