Appointment of Chief Development Officer

RNS Number : 5985R

Invinity Energy Systems PLC

07 July 2022

 

7 July 2022

Invinity Energy Systems plc

("Invinity" or the "Company")

Appointment of Chief Development Officer

Invinity Energy Systems plc (AIM:IES and AQSE:IES), a leading global manufacturer of utility-grade energy storage , is pleased to announce the appointment of Jonathan Marren as Chief Development Officer with effect from Monday 11 July 2022. Jonathan will remain on the Board of Invinity as an Executive Director.

Jonathan has served as a Non-Executive Director on Invinity's Board since the Company merged into its present form in April 2020 and as Senior Independent Director since May 2021. Reporting directly to Invinity CEO Larry Zulch, Jonathan will be responsible for developing current and prospective strategic partnerships as well as executing on wider corporate growth opportunities for Invinity. He will conduct his global responsibilities out of Invinity's London office.

In recognition of his transition to an Executive Director of the Company, the Board intends to make an award of options to Jonathan under the employee share option plan in the coming days.

About Jonathan Marren

Jonathan Marren has spent over 20 years working at the intersection of energy and finance, advising London-listed energy and cleantech companies on corporate strategy, M&A and corporate finance.

Jonathan was at Invinity's predecessor, redT energy, from 2012 to 2016 and has been a Non-Executive Director of redT energy and then Invinity since. Jonathan's prior positions include Deputy Head of Corporate Finance at Singer Capital Markets and Director in the Corporate Department of Peel Hunt.

Jonathan qualified as a chartered accountant with Arthur Andersen in 1999.  

Board Constitution and Committees

The Company announces that subsequent to the appointment of Jonathan Marren as Chief Development Officer, making him an Executive Director, Rajat Kohli will replace him as Senior Independent Director.

Jonathan will also step down from his role as Chair of the Audit & Risk Committee and as a member of the Nomination and Remuneration Committees. Michael Farrow will replace Jonathan as Chair of the Audit & Risk Committee and Kristina Peterson will replace Michael Farrow as Chair of the Remuneration Committee. The Company does not intend to appoint an additional Non-Executive Director at this stage.

Larry Zulch, Chief Executive Officer at Invinity said:

"I first encountered Jonathan in connection with the merger that created Invinity, and the respect I developed for him then has been reinforced since. I am absolutely delighted to have Jonathan on the executive team to provide Invinity with the full measure of his insights and experience. Jonathan clearly shares our conviction that Invinity is on the verge of demonstrating its true value as a utility-grade alternative to lithium-based stationary energy storage."

Enquiries :

Invinity Energy Systems plc	[phone]
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
VSA Capital (Financial Adviser and Joint Broker)	[phone]
Andrew Monk / Simon Barton
EAS Advisors LLC (US Corporate Advisor)	[phone]
Matthew Bonner / Chris Hutchinson

Notes to Editors

Invinity Energy Systems plc (AIM:IES and AQSE:IES) 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).

To find out more, visit  invinity.com  or call Investor Relations on [phone]

 

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