0.4 MWh Sale to UK Solar + Storage Project

RNS Number : 4731N

Invinity Energy Systems PLC

23 January 2023

 

23 January 2023

Invinity Energy Systems plc

("Invinity" or the "Company")

0.4 MWh Sale to UK Commercial Solar + Storage Project

Invinity flow battery to be installed as part of ambitious clean energy project at the UK's first inland surfing destination

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 0.4 MWh vanadium flow battery to Absolute Solar and Wind Limited ("ASAW") for installation as part of an integrated solar PV and Electric Vehicle (EV) project at The Wave, Bristol, the UK's first inland surfing destination.

The project, which is being delivered by ASAW at the site in Bristol, UK, will couple two Invinity VS3 vanadium flow batteries with a capacity of 0.4 MWh to approximately 3 MWp of Solar PV at the site. Invinity's batteries will be used to store and discharge clean, renewable solar energy on-demand to help meet site loads and support the integration of EV charging infrastructure at the site which attracts thousands of visitors each year.

By incorporating an Invinity flow battery system into the project, The Wave will be able to maximise its use of on-site generated renewable electricity, reduce electricity costs and accelerate progress towards The Wave's ambition to power their facility from 100% renewable energy.

Site preparation is currently underway and the battery portion of the project is expected to be delivered to site later this year. This project marks Invinity's second sale to ASAW, who were the principal contractor for the Scottish Water Perth project which launched in 2022.

The Wave is a world first inland surfing destination near Bristol, UK, and welcomes more than 150,000 visitors each year. The Wave recently announced plans to expand operations, opening further sites across the UK and Ireland.

Nick Hounsfield, Founder of The Wave said:

"From the word go, we said we would use 100% renewable energy - it would have been so wrong for us to be using fossil fuels to power our waves, thereby contributing to climate change and the acidification of the oceans. The plan was always to progress to be able to generate our own energy and to know that this will become a reality this year is a dream come true."

Andrew McGown, Solar PV Director, Absolute Solar and Wind said:

"Absolute Solar & Wind Ltd are delighted to be working with Invinity again using their cutting-edge technology. We are really passionate about working with clients like The Wave that have a clear vision on their carbon responsibilities and take action against this."

Matt Harper, Chief Commercial Officer at Invinity said:

"Invinity's business has at its core the belief that our vanadium flow batteries can massively accelerate decarbonising broad segments of the electric grid - from electricity producers through to the businesses they serve. Enthusiasts of outdoor pursuits are some of the most ardent supporters of that net zero path, because they see every day the impact that climate change has on our natural environment. We're thrilled to be working with The Wave to advance that low carbon path; and we are especially happy to be doing so again alongside Absolute Solar and Wind."

Note: This sales order has already been included as part of Invinity management's revenue expectations for the year.

Enquiries :

Invinity Energy Systems plc	[phone]
Jonathan Marren, Chief Development Officer and Interim CFO Joe Worthington, Director of Communications

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 [phone]

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