0.8 MWh Flow Battery sale for Scottish Water site

RNS Number : 4702I

Invinity Energy Systems PLC

14 December 2020

 

This announcement contains inside information

14 December 2020

Invinity Energy Systems plc

("Invinity" or the "Company")

0.8 MWh Flow Battery sale for Scottish Water site

Invinity Vanadium Flow Battery to reduce carbon footprint at Perth waste-water treatment plant

Invinity Energy Systems plc (AIM:IES), manufacturer of vanadium flow batteries for the large-scale energy storage requirements of businesses, industry and electricity networks, is pleased to announce the sale of a 0.8 MWh vanadium flow battery (VFB) to Absolute Solar and Wind Limited for use in a solar plus storage project at a waste-water treatment plant (WWTP) owned by Scottish Water.

Four Invinity VFBs, with a total capacity of 0.8 MWh, will be installed alongside 1 MWp of solar PV generation at the site located in Perthshire, Scotland. The battery system will be used to shift excess solar generation from day to evening in summer months and to perform grid arbitrage activity during winter, reducing energy costs for the site and maximising its use of low-carbon solar power. The battery system will also be used to provide ancillary services to the UK grid including frequency response.

The principal contractor for the project is Absolute Solar and Wind Limited, a leading Scottish renewable energy solutions specialist. The Perthshire site is the first of a number of similar solar-plus-battery projects currently under development by Scottish Water Horizons.

Scottish Water serves around 2.7m households and business premises. Following the Scottish Government's declaration of a climate emergency in 2019, Scottish Water has committed to net zero emissions by 2040, five years ahead of the Government's target schedule.

The sale has an anticipated revenue contribution of approximately £0.7m to the Group, relating to the Invinity battery system itself, ancillary components and associated services. The project is expected to go live in 2021.  

Paul Kerr, Managing Director at Scottish Water Horizons said:  

"Harnessing new ways of generating and storing renewable energy plays a significant part in helping Scottish Water meet its ambitious pledge to reach net zero by 2040.

"The combined solar power and battery storage scheme at Perth is a first for Scottish Water; providing greater flexibility and resilience in managing peaks and troughs in power demand, whilst at the same time enabling operational efficiencies and lowering carbon emissions.

"We welcome the opportunity to work with Absolute Solar & Wind and Invinity as we seek to accelerate and increase the scale of our renewables schemes across Scotland."

Larry Zulch, Chief Executive Officer at Invinity said:

"This project illustrates the determination of those providing critical infrastructure to support the energy transition without compromising their overriding mission of delivering public services. We're very pleased to be working with Absolute Solar & Wind and Scottish Water to support their vision for a robust net zero energy future. Although modest in size as an individual contract, the Perth project has great significance as a template for future business for Invinity."

Enquiries :

Invinity Energy Systems plc	[phone]
Larry Zulch, Chief Executive Officer
Peter Dixon-Clarke, Chief Financial Officer Joe Worthington, Director of Communications
Canaccord Genuity (Nominated Adviser and Joint Broker)	[phone]
Henry Fitzgerald-O'Connor / James Asensio / Angelos Vlatakis
VSA Capital (Financial Adviser and Joint Broker) Andrew Monk / Andrew Raca / Simon Barton	[phone]
Hudson Sandler (Financial PR) Nick Lyon / Nick Moore	[phone]

Notes to Editors

Invinity Energy Systems plc (AIM:IES) manufactures vanadium flow batteries for the large-scale energy storage requirements of businesses, industry and electricity networks.

Developed specifically for high-utilisation applications, Invinity's highly scalable, factory-built flow battery products make low-carbon renewable generation reliable and can run continually with no degradation, charging and discharging for over 25 years. 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 10MWh of systems deployed to date across 40 sites in 14 countries, Invinity is active in all major global energy storage markets and has operations in the UK, Canada, USA, China 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 [phone].

 

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