Last checked at 1 Mar 2022 09:00
1 March 2022
Invinity Energy Systems plc
("Invinity" or the "Company")
Invinity Joins Long Duration Energy Storage (LDES) Council
Invinity Energy Systems plc (AIM:IES), a leading global manufacturer of utility-grade energy storage, is pleased to announce it has joined the Long Duration Energy Storage (LDES) council, a CEO-led organisation launched at COP26 to advocate for the global deployment of LDES technology including vanadium flow batteries.
The LDES Council provides fact-based guidance to governments, grid operators and major electricity users globally with the aim of encouraging the adoption of LDES to replace the use of fossil fuels and accelerate carbon neutrality. Council members include numerous technology providers from across the LDES space alongside industry leaders such as Microsoft, Google, BP, Shell, Orsted and Siemens Energy.
The need for LDES is now accepted across the energy industry. Multiple studies and reports emphasise the benefits that adoption of such solutions could deliver to the electric grid. Notably, a recent report from Aurora Energy Research concluded that LDES could provide the necessary infrastructure for further renewable penetration in the UK grid more flexibly and at lower cost than other options, significantly accelerating decarbonisation and reducing UK reliance on gas by up to 40% in the Net Zero forecast.
This news follows the recent announcement by the Department for Business, Energy & Industrial Strategy (BEIS) that it has awarded funding to Invinity to conduct a feasibility study aiming to deliver a 40 MWh UK Solar + Storage project. The award was granted as part of BEIS's Longer Duration Energy Storage (LODES) programme, which forms part of the Government's 10-Point Plan, announced in November 2020, in which £100m has been committed to address "Energy Storage and Flexibility Innovation Challenges".
More information on the Long Duration Energy Storage Council can be found on its website: https://www.ldescouncil.com/.
Larry Zulch, Chief Executive Officer at Invinity said:
"In the world of energy, we believe there is no area more exciting than large-scale energy storage. From a few installations a decade ago to a market Barclays Bank says is "likely to approach the trillions," energy storage makes wind and solar available around the clock. The transition to renewables requires coordinated support for long-duration storage, and Invinity is pleased to participate in the leading and most innovative organization providing that support across markets, across countries, and across technologies, the LDES Council."
Enquiries:
Invinity Energy Systems plc | +44 (0)204 551 0361 |
Peter Dixon-Clarke, Chief Financial Officer Joe Worthington, Director of Communications | |
Notes to Editors
Invinity Energy Systems plc (AIM:IES) manufactures 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 25 MWh of systems deployed to date across more than 40 sites in 15 countries, Invinity is active in all major global energy storage markets and has operations in the UK, Canada, USA, China, Australia 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
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