Last checked at 1 Jun 2023 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").
1 June 2023
Invinity Energy Systems plc
("Invinity" or the "Company")
2.1 MWh Sale to U.S. Utility
Invinity flow battery will provide solar power on-demand for San Juan Island
Invinity Energy Systems plc (AIM: IES) (AQSE: IES) (OTCQX: IESVF), a leading global manufacturer of utility-grade energy storage, is pleased to announce a 2.07 MWh sale to Orcas Power and Light Cooperative (OPALCO), the non-profit cooperative utility for San Juan County, Washington, U.S. for use in a solar plus storage project.
The project will see nine Invinity VS3 vanadium flow batteries installed by OPALCO alongside a 2.75 MWp Solar array on San Juan Island, located off the west coast of Washington state. Invinity's batteries will be used to store excess solar generation which can then be discharged on-demand to support the local grid and enhance energy security on the island as part of an innovative microgrid project.
OPALCO is committed to developing a resilient energy system via local renewable and battery storage projects. Delivery of the Invinity batteries is expected in H1 2024. The contract was included as part of the Company's Base category in its most recently disclosed commercial pipeline.
Foster Hildreth, General Manager at OPALCO said:
"We're excited to be implementing Invinity's vanadium flow battery technology as part of our innovative island microgrid project. This project will significantly advance our ambitions to power San Juan Island from clean, low-cost, self-generated renewable energy and offer our isolated island communities a local, low-carbon power supply. Invinity's technology will provide our system with proficient storage capabilities while maximizing our investments."
Matt Harper, Chief Commercial Officer at Invinity said:
"We at Invinity are very pleased that OPALCO has selected our vanadium flow batteries to play a major part in dispatching locally produced renewable energy to the San Juan Island community. This exciting project will further demonstrate how our batteries can bring the benefits of 24/7 renewable power to even the furthest reaches of the U.S. electrical grid. We hope this project will be the first of many with cooperative utilities like OPALCO who together provide power to 42 million Americans."
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Enquiries:
Invinity Energy Systems plc | +44 (0)20 4551 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 / Harry Pardoe / Gordon Hamilton | |
VSA Capital (Financial Adviser and Joint Broker) | +44 (0)20 3005 5000 |
Andrew Monk / Simon Barton | |
Tavistock (Financial PR Advisor) | +44 (0)20 7920 3150 |
Simon Hudson / Charles Baister | invinity@tavistock.co.uk |
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 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.