Last checked at 30 Aug 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").
30 August 2022
Invinity Energy Systems plc
("Invinity" or the "Company")
Invinity Completes Manufacturing Expansion
First shipment from new facility; UL certification granted for Invinity VS3 battery modules
Invinity Energy Systems plc (AIM: IES) (AQSE: IES) (OTCQX: IESVF), a leading global manufacturer of utility-grade energy storage, is pleased to announce the first shipment of Invinity batteries from new manufacturing partner Baojia New Energy ("Baojia").
The Company announced on 27 June 2022 in its 2021 Full Year Results that it was expanding its manufacturing capabilities by working with Baojia, a contract manufacturer with over 1,000 employees and more than 180,000 square meters of facilities located across Asia primarily dedicated to manufacturing hardware for renewable energy projects worldwide.
1.1 MWh of Invinity batteries have now been shipped from Baojia's facility in Suzhou China. These batteries will form part of the 8.4 MWh order placed by Elemental Energy for their project in the Canadian province of Alberta announced on 3 February 2022. The batteries will be shipped to Alberta via Invinity's facility in Vancouver where the systems will undergo final assembly and testing ahead of expected delivery in Q4 2022.
Invinity's VS3 battery modules can now be marked as certified to UL1973, the globally recognised standard for stationary battery systems. The UL certification mark, issued by Underwriters Laboratories, is especially important within North America where it is often required for equipment connected to the electric grid.
UL certification sets Invinity's product apart from many other emerging battery technologies and provides third-party validation of Invinity VS3 safety characteristics. This certification is a key component of the Company's ongoing North American growth strategy and builds from the announcement that Invinity's products have been certified compliant with multiple major ISO standards in April this year.
Matt Harper, Chief Commercial Officer at Invinity said: "We are constantly working to improve our customers' experience deploying Invinity's products. Delivering against tight timelines and seamlessly integrating our products at site is critical to achieving that goal. Our announcement today combines two critical steps toward delivering ever-larger projects that benefit from Invinity's focus on operational excellence at scale. I'm thrilled that our partners at Elemental and every one of our existing and future customers will benefit from this critical evolution of Invinity's capabilities."
Enquiries:
Invinity Energy Systems plc | +44 (0)204 551 0361 |
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 | |
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 Hutchinson | |
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 also 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.