Last checked at 12 Oct 2022 07:00
The information contained within this Announcement is deemed by Invinity Energy Systems plc to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK law by virtue of the European Union (Withdrawal) Act 2018 ("MAR").
12 October 2022
Invinity Energy Systems plc
("Invinity" or the "Company")
0.8 MWh Sale to Equans Belux
Sale is Invinity's first into European market poised for growth
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 0.8 MWh Invinity VS3 flow battery system to Equans Belux for use at one of their sites in Belgium.
Four Invinity VS3 batteries with a total capacity of 0.8 MWh will be integrated with solar PV to allow Equans to support their customers in unlocking low-carbon energy on-demand and supporting their operations by extending and maximizing EV charging capacity. Equans considers this project as an important reference site to present this new solution to their customers, and also to validate the performance of Invinity's flow batteries in terms of suitability for future projects.
Recently acquired from Engie by leading diversified services group Bouygues, Equans is a world leader in energy services with nearly 100,000 employees, working in more than 50 countries hubs and an annual turnover of over 17 billion euros. Equans designs, installs and provides customised solutions to improve the technical equipment, systems and processes of its clients and to optimize their use through their energy, industrial and digital transitions.
The batteries will be assembled at Invinity's Bathgate facility with delivery expected in early 2023.
Matt Harper, Chief Commercial Officer at Invinity said:
"Invinity's first VS3 sale into the European market is exciting for us, especially given the strength of our customer. Equans and Bouygues are global leaders in providing the technical services that help commercial and industrial companies profitably navigate the low-carbon energy transition. We are excited at the opportunity to demonstrate how Invinity's durable, safe and economical energy storage solutions can help accelerate that transition across Equans' client portfolio."
Enquiries:
Invinity Energy Systems plc | +44 (0)204 551 0361 |
Jonathan Marren, Chief Development Officer and Interim CFO Joe Worthington, Director of Communications | |
Canaccord Genuity (Nominated Adviser and Joint Broker) | +44 (0)20 7523 8000 |
Henry Fitzgerald-O'Connor / Gordon Hamilton | |
VSA Capital (Financial Adviser and Joint Broker) | +44 (0)20 3005 5000 |
Andrew Monk / Simon Barton | |
EAS Advisors LLC (US Corporate Advisor) | +1 (646) 495 2225 |
Matthew Bonner / Chris Chesworth | |
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 33 MWh of systems deployed to date across more than 50 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 on the AIM Market of the London Stock Exchange and on the Aquis Stock Exchange (AQSE). The Company trades in the USA on OTCQX Best Market under the symbol "IESVF".
To find out more, visit invinity.com or call Investor Relations on +44 (0)204 551 0361.